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Apartments Ready at 112 Genesee Street

Chapin Development has finished work on five one-bedroom apartments at 112 Genesee Street while work on restaurant Marble + Rye’s first floor space will be underway soon. The development group consisting of Paul Lamparelli, Peter Lamparelli, Steve Przbyla and Sean Insalaco purchased the long-vacant structure across from Genesee Gateway in mid-2013 and has undertaken a top-to-bottom makeover of the property.

There are two apartments on both the second the third floors with 700 to 850 sq.ft. of living space and the largest unit with 1,000 sq.ft. occupies the fourth floor.

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Apartments feature hardwood floors, granite countertops, high-end appliances, recessed lighting, exposed brick walls, ample closets, central air, in-unit laundry facilities, and high ceilings.

Two of the apartments are leased and occupied and interest in the others has been strong according to Insalaco. Rent for the remaining 700 sq.ft. one-bedroom apartments on the second and third floors is $875 (below left) and $1,100 for the larger fourth floor apartment (below right), not including utilities.

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Marble + Rye, a new restaurant from Michael Dimmer and Christian Willmott, has leased the first floor space. The full-service restaurant and bar (Facebook) will have seating for approximately 70 guests. Insalaco says the design for the restaurant is finished and the plans have been submitted for permits. Work is expected to start next month and take three months to complete. It will join Dog é Style, Marco’s Italian Deli, and Natalie’s Mediterranean Eatery on the block.

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Insalaco says the rehab work on the building was relatively problem free.

“It was your typical old building,” he says. “We started with what was a shell for the most part.”

Interestingly, he says the biggest obstacle was getting high speed internet service to the building. He says the block was an unserved “island” without internet cables. After striking out with Time Warner Cable, Verizon agreed to bring service to the building.

What’s next for Insalaco? His team continues to look for other projects. They bought the office building at 392 Pearl Street and have added tenants to the property. They have also renovated a carriage house at 406 ½ Linwood Avenue into two apartments. The largest with 2,000 sq.ft. of space is available for $1,650/month.

“The good stock is picked over, and the market is hot right now,” says Insalaco. “The challenging stuff is left and the prices are high.”

Insalaco is also working with Robert Finan to open Tommyrotter Distillery near the Larkin District. They have taken space in Savarino Companies and Frontier Group of Companies’ 500 Seneca property that is undergoing redevelopment as commercial and residential space. The distillery is expected to be open this spring.

Leasing Information: Sean Insalaco, 716.480.5842

Chapin Development website.

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Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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