Real Estate December 6, 2010 8:40 AM

Law Firm Looking at Vacant Main Street Property

Law Firm Looking at Vacant Main Street Property

Ricotta & Visco is negotiating to purchase a four-story building at 496 Main Street.  The law firm would renovate the vacant building and relocate from the eleventh floor of Main Place Tower if the deal goes through.  496 Main Street is adjacent to The Belesario lofts at the northwest corner of Main and Mohawk streets.

Jim Fink at Buffalo Business First has the details:

Ricotta & Visco is planning a $1.5 million project, including acquisition and renovation costs, according to documents filed with the Erie County Industrial Development Agency.

The IDA is considering an incentive package for the project under its adaptive re-use policy, said Grant Lesswing, business development officer.

A hearing is set for Dec. 9, with the IDA board expected to vote on the package Dec. 13.

"It's a building that, for the most part, has sat empty for years," Lesswing said.

The 11,440 sq.ft. building at 496 Main is owned by Kent Keating.  Keating had approvals to renovate it for commercial space topped by one unit of housing but later decided to sell the property with a $395,000 asking price.

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I hope this goes through. Would be nice to see another Main St building rehabbed and full of people.

Anyone know if there were plans to re-open Mohawk street for the car-sharing project?

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Looks like a great reuse for a darling old building.

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Even though they are shuffling the deck occupancy wise, it still is great if we get a rehabbed building out of it. These small projects are what really change the environment in the city.

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If offices must shuffle locations, this is the best of all possible ways to do it. Great plan Ricotta & Visco.

replied to brownteeth
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Leasing vs. Buying is hardly shuffling the deck.

Building value in the company itself and in downtown. A win win.

I'm sure someone will snap up main place quickly.

replied to brownteeth
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Great small project, can't wait to see the final project.

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fingers crossed that they make the move and find a good tenant for the vacant storefront!

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Likewise, I hope to gawd, the aim for a retailer or restaurant for the first floor and NOT a office. So sick of valuable first floor spaces along MAIN STREET waisted on offices with blank windows. If we want to creat LIFE on Main again, we have to aim high, not low with borin a** first come first serve office space on the FIRST FLOOR on Main. What about shoes stores? Cafe's? Clothing? ect? THOSE CREAT LIFE, not a first floor office space. BORING!!!

replied to grad94
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Excellent. This will erase one of the last eyesores in this block. If you're downtown (maybe to enjoy the vintage holiday windows), scoot by the 500 block of Main Street. With the improvements R. Trettel and others (D. Warfe) have done to the buildings and facades on the east side, cleaning up this corner on the west side will nearly complete the transition. Thank you.


Related BR post: http://www.buffalorising.com/2010/08/cornucopia-takes-shape.html#SlideFrame_1

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Anything new with the Main Place anyways? It seems that you only hear about it when someone is moving out.

I was on main street the other day looking at the holiday windows.. what a strong solid street. Kinda creepy with the xmas music playing and being the only 2 people there was like some sorta end of the world Buffalo snow movie.

But anywho, good looking building.. glad to see more progress!!

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Untill the Main Place Mall current owners die off or sell, we are stuck with a rotting building on the 400 block of Main Street.

replied to Buffalo All Star
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Main Place Tower is far from a rotting building, and what's more the address is 350... but location aside.... this is one of the best office buildings in town. We love our office space, and the Main Liberty Group does an outstanding job of running the place... head and shoulders above other management groups which we have dealt with and will remain nameless... just in case they run for governor again. You probably should not blame Main Place because Buffalo has no foot traffic, or any real commerce of which to speak. Main Place Tower is a jewel, and you should be greatful that they have tried to hang on in the face of the blight that is downtown Buffalo...

replied to Lego1981
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Um, yeah, so boarding up potential retail space (upper level and half of lower) will totally encourage retailers to move in? Not having any special events, no black friday sales, no santa for kids, no late hours, no Sunday hours, no ADVERTISING what so ever to let people know, 'Hey, we're still here',no signage at all on MAIN STREET to say it's even a MALL!!!! They could revamp the place, update it from the 1960's/1980's mix that it's in right now and put up some SIGNAGE and put some ads out. With out any of these, of course it's a dying Mall. (dead)

replied to CindyLee
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They have special events all the time. They are constantly trying, but most people would rather complain than deal with the truth! There are no people downtown for commerce! We work down here and then we go home to other towns, and even still shop in other places. Why would I come down here after working, when The Boulevard, or any other mall, is so complete and so shopper friendly? The lack of live bodies should not be blamed on the Main Place! They are awesome. If they had given up, you all would be complaining your butts off about THAT...

replied to Lego1981
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I really think the emphasis on retail should be more focused on Main street instead on canal side. It is already set up for it, we just need one or two big name national retailers to open up a store and I bet more local and national retailers and restaurants will follow suit very quickly after.

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There is already build in traffic within the office buildings. In some areas there is quite a bit of foot traffic downtown during the day. The night time and weekends are another story.

replied to brownteeth
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Cindy, you act like downtown is completly void of anyone. Not true anymore. If the owners of the mall were to fix it up, market it to retailers and made it look presentable inside and out, people would come back to shop. Most go the burbs, because many in the city are too afraid of NATIONAL CHAINS and sue them if they even thought about it.

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I'm not at all sure what you mean by the second half of that statement, but I will ask you this...how do you fill a mall with retailers that can't make money because we don't have enough people in this area with money to shop? Are you suggesting that Main Place FORCE retailers to come to Buffalo? Do you suppose that if Main Place made the place look better somehow, that more people would live in Buffalo?? No one ever deals with the real problem, which is why everything fails! Main Place looks fine, and is run really well... there are not enough people in WNY to sustain commerce! We've had major chains try and fail to make it in this area. We lost Mobil stations, Burger Kings and McDonald's! We lost Taylor's ... we couldn't sustain ONE measly department store! Eventually retailers got smart and stopped trying! We lost great national food chains that were located at our BUSIEST INTERSECTIONS! If we can't sustain a major chain at Sheridan and Niagara Falls Blvd, what chance do we have in downtown Buffalo? We should stop picking on the people that are trying, and look at why no one wants to come here, the rest of us are leaving, and the people that are left have very little to live on!

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