Updates: 112 Genesee and 133 Grant Street
Two properties profiled on these pages in recent months traded hands yesterday. Steve Calvaneso has sold 112 Genesee Street (right) to Hat Trick Development Inc. for $155,000.
In a separate transaction, Plaza Group sold 133 Grant Street (below) to Sobko Realty Co. out of Hempstead, New York for $195,000. Sobko’s plans for the former M&T Bank branch turned office building are unknown, but it is leased to a collection agency until October 2008.
The building had been listed at $235,000.
Calvaneso purchased the 7,200 sq.ft,. four-story building at 112 Genesee Street in February 2005 for $90,000 but cancelled plans to convert the building into two apartments and offices.
The building actually sold over its $149,900 asking price. Buffalo-based Hat Trick Development’s plans for the structure are not known.
Across the street, David at FixBuffalo is reporting that the remnants of 85 Genesee Street could soon be demolished. Triangle Development LLC had planned to renovate 85 and 91 Genesee Street but their plans literally crumbled in November 2002 when strong winds caused the facades to collapse into Genesee Street as the buildings were being gutted. All that remains are the ground floor facades.
I recollect that those buildings at 85 and 91 Genessee Street got City funding for stabilization. How come it has been four years that the buildings sit and languish? Is there another plan for development; could the City recoup its investment by selling the property as-is?
I hope that Triangle doesn't have any other building they're going to sit on for four years that will then need demo.
Unfortunately, Triangle does. According to the City property database, Triangle also owns 1542 Main and 515 Linwood, all purchased after 85-91 Genesee. Two of the properties are in Housing Court. So evidently they chose to use their resources to acquire more property rather than rehabilitate the ones they owned.
To see the record of both cases, including the nonpayment of fines, go to:
Housing Court
Search by party name and use the pull-down menu to select Erie County. Hearing coming up on Sept. 30!
Just Curious,
Good find. I've linked to the specific case, Housing Court Watch - 85 Genesee Street. More tomorrow...
I know a little about 85-91 Genesee Street as well as 1542 Main Street.
Jesse Schnell bough the Genesee Street properties before she and Scot Fisher were married. He bought 1542 Main before the marriage (though what entity now owns them, I don't know). They live around the corner from Main Street on Linwood.
Scot intended to get going on the redo of Main Street by now, but the Church (as in Ani DeFranco and Righteous Babe) took too much time. Next up on their agenda has been Genesee Street. But unfortunately a wind storm ruined the tenuous viablity of that project when they were undertaking it a couple winters ago. They have serious money tied up in it. It is useful to remember that Genesee Street was scheduled for demolition when Jesse acquired it in a desperate bid to save the building. I believe they have somewhere between $125,000-$150,000 tied up in it.
Anyone care to make them an offer to take over?
As for Main Street, Scot is still likely to develop it himself now that the Church is done. But (acting as his broker; I also brokered the sale to him four years ago) we are in negotiaitons with a particularly responsible buyer who may acquire that property. It would be rehabbed, but would require funding which is not guaranteed. So the deal may linger a while and appear as nothing is happening. That doesn't mean nothing is happening.