An ornate piece of Main Street’s 500 block is for sale. Chris Malakowski of Hunt Commercial Real Estate is listing the three-floor, 7,680 sq.ft. building at 523 Main Street with a $165,000 asking price. It is one of several properties on the block currently on the market.
“523 is a very interesting building and I think the price is right.,” says Malachowksi. “The interesting part is that the back of 523 is actually ‘attached’ or contiguous to the back of Jay Newman’s (500) Washington Street listing creating several possible scenarios” if the two were combined.
500 Washington is a two-story, 2,360 sq.ft. masonry building (above) listed with Hasting Cohn’s Jay Newman for $99,500.
With several properties now on the market, there’s finally a chance at bringing new life to the long underutilized block.
Don Warfe purchased a three-story building at 501 Main Street and is planning to open a take-out Brodo location and two upper floor residences.
Aross the street, the four-story, 11,440 sq.ft. building at 496 Main was purchased by Kent Keating with plans to renovate it for commercial and residential space. Keating had a change of heart and has listed the property with Hastings Cohn.
Recent investments include Carmina Wood Morris’ renovation of 487 Main Street and Iskalo Development’s rehab of the Electric Tower building and the former Howard’s Shoes store at 5 E. Huron. The Martin Group’s redevelopment of a former Wendy’s at 477 Main Street is getting underway.
On Washington Street, E-Square Capital is slowly working on creating three, two-unit condominiums at 504 Washington and the Slotkin Building at Washington and Mohawk is the new home of the WNY Books Arts Collaborative. The owner of the former Arby’s/Grever Florist building at 537 Main is upgrading the building for commercial users and upper-floor residential.
Get connected: Chris Malachowski, Hunt Commercial, 716.880.1914; Jay Newman, Hastings Cohn, 716.886.3325