Buffalo Rising Online

did the current owners do anything to merit the $300K mark-up

Mixed use residential that is built to the curb, that justifies the mark-up! No bike rack though, you may have to demand that as a condition of the settlment.

for 719,000 i cant see this property lasting too long. Its all studios that are rented? sounds like a good deal actually

Looks like a good opportunity. 28 fully leased studio apartments and 2 store fronts. I don´t know what condition the inside or outside is generally in but getting the price down to something reasonable I think this could be a good long term investment. Who wants to give me a loan?

At least we should be grateful that this particular example of Buffalo's fine archetectural history is still with us. The exterior at least. Seems unlikely, but tragic, that it could actually house 28 studio apartments. The interior couldn't possibly have much integrity. As large as it is, it must be crowded indeed if only to support 28 bathrooms.

Furthermore, after doing a 360 courtesy a Google Maps Bird's Eye, I ask about the lessees who occupy this structure. Using the data furnished in this article and a cursory aerial inspection, I figured that the businesses comprise a big chunk of the 13,000 + square footage. Let's say that the mansion then constitutes 10,000 ft. When that number is divided by 28, the avg. is 357 sq. ft. per studio. (This figure disallows halls an staircases/wells. That does arrive at reasonable room for very small units,

My little unscientific analysis says that it houses not the young professionals we hear about. This is not their vision. I see three urban dwellers who might. First, I see low level, low pay workers who travel light. Second, I see students who could take advantage of bus lines to get to varous schools easily. Third, I see perhaps the elderly whose income and need are few. What one would hope not to see are children.

I would really like some one who knows to respond. Validate me or set me striaght.

My thanks in advance.

Remove the horrible storefront and restore the manson's front !

An FYI, this place is a Drug haven. they need to change the apartments and tear down that store front.

That's right, get these people out of this building and move them on to the next. There is nothing like our Buffalo Police Department stepping in to assist, just send them packing to the next building that offers crappy apartments and low rent.

If you know that there are crimes committed, then why don't you call the police? Do you have faith that the police will respond and the courts will follow through, or are you throwing up your arms and hoping for the landlord to step in?

It's not priced for rehab. You can get a better building, empty, ready for rehab for a third (or less) the price, same (or better) neighborhood. You're buying the fact that it's full... which as previously explained, may not be the greatest thing for the neighborhood.

I suppose you could call this a "mansion" but it was not built as a family home. It was, in fact, a residence for "fallen girls" (pregnant out of wedlock). This helps to explain the many small rooms. The location was strategic since St. Mary's was at that time a lying - in hospital.

First I would say I would offer only $480,000 for this property. The first pictured property. That is 5% for each year since they have owned it. They I would take into account the fact that the roof def needs to be replaced. Seeing as how a 20 sq roof goes for around $14,000 in the city this is easily 40+ sq so your looking at around $30,000-$40,000 or more to replace. This brings it back down roughly to its original price. After that any repairs to the inside would be pricey as well. If a contractor is working on a building like this you can almost imagine that they will inflate the price simply because it is a nice building and they think you have tons of money. If I owned this I would keep the store front, renovate it to 5 3 bedroom 2 bath apartments. Its a beautiful building but it sounds like the owners are trying to flip it and make double what they paid for it. Also the problem with kicking out crappy tenants is the fact they cause more damage when they know they have one month left and are being evicted. I hope the next owner tries to do something similar to my ideas and attract a nice store front and middle class condo type families.

Thanks for stepping up with the low down on this property. It appeared to be too good to be true and, apparently, it is. It sure makes sense as a one time home for wayward girls. When looking at the structure from the air, there is an unmistakable sense that it was not originally a mansion. But I must say, the terrific PR job (sans trash bins) had me Buffaloed. Couldn't resist.

Nice to learn more about this building, WCP - I've been quite taken with it as a "diamond in the rough" since going by it on a tour during the first Old Home Week. But I've had the oddest experience - then and every time since that I've had the chance to take a gander at the building: a guy sitting or standing near the front, who just walks up and sort of stares zombie-like at anyone in the vicinity. Given that experience, I figured that all must not be quite right with this building and its current occupants - as many of the commenters have confirmed. Also, I agree with several commenters that it would be great for Delaware Avenue to get that storefront addition taken off - hopefully the front of this fine building wasn't irrevocably affected when it was added.

Thoroughly stupid comments, as usual.

430 Delaware was built between 1881-1883 as 2 townhouses for a family named Ramsdell. The architect was Caulkins. I thank Martin for digging up this information while I owned the building from 1995 until 2003. I sold it for $440,000 in July 2003 and it was flipped in July 2004 for $520,000 to a Californian investor who sold it again to the current owner basically for what he owed on the mortgage.

This building started many of my criticisms of the City of Buffalo which still exist today.

Personally I believe it would make a great 14-unit addition to The Mansion next door but for some reason they were never interested in it.

Thanks, Sal, for the clarification.