Real Estate May 14, 2010 2:15 PM

McGee Buys Avant Condo Unit

WCPerspective 18

Terrence McGee is moving downtown. The Buffalo Bills corner back purchased a sixteenth floor condominium in Avant. According to County Clerk records, McGee paid $575,000 for the 1,676 sq.ft., two-bedroom, two bath unit.

The Avant includes a 150-room Embassy Suites hotel on the first seven floors and 128,000 sq.ft. of office space on floors 8 through 12. Law firm Damon & Morey has taken two of the floors. Each use has separate entrances and elevators, but share many of the Embassy Suites' features and services. The building, developed by Uniland Development and designed by Stieglitz Snyder Architecture, opened last July.

The building's 26 condominiums on the top three floors were the last component completed. Residences in the building have a base price of $365,000 and top out at $1.73 million for a penthouse unit on the 16th floor. Sizes range from 1,283 sq.ft. for a one-bedroom unit to 3,664 sq.ft. in the largest three-bedroom residence. Eight of the 26 condominiums are priced at over $1 million.

Buyers started closing on units in December. McGee is the fourth to date. According to published reports, there are twelve unsold units in the building.

Get Connected: Uniland Development, 716.840.0045

View image

Comments

18 Comments Leave a comment

Ike

May 14, 2010 1:37 PM

There it is...the key to downtown's housing renascence...semi-transient millionaire professional athletes

[ Reply ]

Score: 1 ( 1 votes )

Fortunate4now

May 14, 2010 2:08 PM

Sure beats renting some temporary box in a Hamburg suburb like most of the players.

[ Reply ]

replied to Ike

Score: 0 ( 0 votes )

Chris

May 14, 2010 4:34 PM

Agreed. Win for downtown.

Although this is not breaking news or an indepth profile this article serves as an update on one of the most successful rehabs that Buffalo has ever seen.

[ Reply ]

replied to Fortunate4now

Score: 1 ( 1 votes )

littleacorn

May 16, 2010 10:18 AM

Don't forget that the taxpayers of Buffalo, Erie County and New York State have built and subsidized the place of employment for McGee. Isn't this the essence of success in NYS to have middle class people subsidize your employment and now provide you with a place to live where you do not have to pay property taxes. Why isn't WNY more successful? Successful? If you do not have to pay property taxes why aren't they all sold? In ten years, the citizens of Buffalo will be repeating the Hyatt Hotel scenarios.

[ Reply ]

replied to Ike

Score: 1 ( 1 votes )

5to81ALLDAY

May 14, 2010 1:57 PM

such a beautiful building, but there is NOTHING anywhere NEAR it that matches it's size or look. Where are the Bashar Issa's when we need them!?

[ Reply ]

Score: 1 ( 1 votes )

grad94

May 15, 2010 1:56 PM

in jail where they belong.

[ Reply ]

replied to 5to81ALLDAY

Score: 0 ( 0 votes )

jstraubinger

May 14, 2010 2:01 PM

Let's not be too cynical this afternoon. The AM&A's Warehouse Lofts formerly opened today with 45 of the 48 units leased.

http://www.buffalonews.com/2010/05/14/1049847/from-warehouse-to-apartment-house.html

[ Reply ]

Score: 1 ( 1 votes )

Hazel

May 14, 2010 2:28 PM

Unless you have lived in a Termini building I wouldn't 1.) Be so happy for those alleged 45 lease holders (they have a log of unexpected excitement in store for them) or 2.) Believe that this building is really going to be 98% occupied immediately. Remember it took Termini almost a year to completely rent the Webb Lofts and this building has a BIG turnover. Yes, all of his tenants are temporary residents so it's not like they are going to move in and stay a while. Most are gone in 6-months to a year. I wish him luck but in the end this constant transition is going to take it's toll on all of his buildings.

[ Reply ]

replied to jstraubinger

Score: 0 ( 0 votes )

grad94

May 14, 2010 4:24 PM

i'm not sure i understand your remarks about termini's tenants. he probably has a minimum 1-year lease like every other residential landlord, so his units won't be turning over any faster than anyone else's.

[ Reply ]

replied to Hazel

Score: 1 ( 1 votes )

Urbanica

May 14, 2010 4:35 PM

Who cares if there is turnover. As long as the building remains more or less occupied.

[ Reply ]

replied to Hazel

Score: 1 ( 1 votes )

suburban_hillbilly

May 14, 2010 3:07 PM

This is news? Once condo sells for $575k and it warrants an article? Must be a slow day at BRO. "In other news, a 2006 Chevrolet Silverado sold at Paddock Chevrolet for $19,000 to Mr. John P. Whogivesash@! from North Tonawanda. This is one of 6 used pickup trucks on the lottoday." Waste of time.

[ Reply ]

Score: 0 ( 0 votes )

Eisenbart

May 14, 2010 3:45 PM

I like how you must chime in on this supposed waste of an article. If BRO and this article is a waste of time then why bothering turning on your computer, opening your browser of choice, coming to buffalorising.com, scrolling through articles, reading the articles, signing in, and finishing it all off with a response to an article that is more a waste of time than the article itself.

So in the end if you feel this is a waste of time what does that say about your life?

It's wrong for me to ask that question because I won't be back to read your inevitable reply as you probably come here to troll several times a day nor do I care what you have to say.

In other words. Shut up. Seriously.

[ Reply ]

replied to suburban_hillbilly

Score: -1 ( 1 votes )

suburban_hillbilly

May 17, 2010 8:16 AM

Just in case you do come back to read my reply...I didn't say that every article on BRO is a waste of time. I had to read it in order to come to that conclusion so I don't really see your point. This one particular article is pointless as is your comment. I do scroll through here a few times per week like many others. I assure you that you wouldn't have the brass to make such comments to my face. Does telling a stranger to "shut-up" on a public web site make you feel tough? You aren't.

[ Reply ]

replied to Eisenbart

Score: 1 ( 1 votes )

johnnywalker

May 15, 2010 8:00 AM

have to admit that is a funny comment. Lets hope someday Buffalo gets to the point where this will not be news.

[ Reply ]

replied to suburban_hillbilly

Score: 0 ( 0 votes )

omonahan

May 15, 2010 2:11 PM

The thing about hyperbole (comparing a 575k condo to a 19k car) is that it's suppose to be funny. You missed that bit.

Also, since about 10 condos a year sell for over 500k in Buffalo - and this is a brand new building establishing itself for the first time - this is a worthwhile article on this site. If the Buffalo News ran the story on the frontpage, well, that'd be something else entirely. But it's the internet man - it's not like we're dealing with space limitations and have to choose what to publish. Publish 'em all and let suburban hillbillies sort 'em out.

[ Reply ]

replied to suburban_hillbilly

Score: 0 ( 0 votes )

LouisTully

May 15, 2010 4:19 PM

I could care less. You didn't offend me. Sometimes this website is like little league baseball. You gotta be real nice to everyone and everyone gets to play and everyone gets a trophy. God forbid someone be critical of a city that disappoints like a bodily function.

[ Reply ]

replied to suburban_hillbilly

Score: 1 ( 1 votes )

Patrick

May 15, 2010 9:39 PM

Nice, but it his business. I agree with the Hamburg box comment.

[ Reply ]

Score: 0 ( 0 votes )

MrGreenJeans

May 18, 2010 10:24 PM

Mom & I walked down S.Elmwood yesterday morning ... and almost choked on the stench from the dumpsters at this place. Bless those who see fit to pay a half-million bucks to smell such garbage - they obviously know something we don't!

[ Reply ]

Score: 1 ( 1 votes )