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Sales Watch: Four or Fewer Units Left at Pasquale

Sales are off to a strong start at Historic Warehouse Lofts on Ellicott Street.  The Buffalo News reports that Jake Schneider and his team have contracts out on 10 of 30 units in the condo conversion project.  A new build on the waterfront meanwhile is winding down sales.

With the sale of a fourth floor unit for $500,000 last week, Ellicott Development has just four unsold units of 49 in Waterfront Place’s Pasquale.  One of those unsold units on the second floor is off of MLS, a sign that the unit is pending.  If that’s the case, just three first-level units are available from the developer.

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Waterfront Place includes the 13-story condominium tower, five townhomes along Ojibwa Circle and a landscaped central park area.  Chaintreuil, Jensen & Stark Architects in conjunction with Charles Gordon designed the project.

Tower residences include gourmet kitchens with custom cabinets and granite countertops, hardwood and ceramic tile flooring, whirlpool tub and steam shower in master bathroom suites, and one or more balconies. Several units on the upper floors have rooftop terraces and many have both water and downtown skyline views.  The residences sit atop a two-level parking garage.

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Condominiums sold briskly as the building was under construction in 2008-09 but slowed during the economic downturn.  The most expensive unit, a 3,633 sq.ft. three-bedroom penthouse, sold for $1.32 million in 2009.  Remaining units with 1,342 to 2,572 sq.ft. of space were priced from approximately $325,000.

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Ellicott has been leasing units while also marketing them for sale with steady progress.  Three units sold in 2013 and two sold in 2014.  This year three units have sold ranging in price from $500,000 to $541,000.  Ellicott also sold its last townhouse unit at 13 Ojibwa for $600,000 in April.

Two remaining units on the first floor with one bedroom and one bathroom and 1,342 sq.ft. of living space are priced at $348,900 according to MLS.  A two bedroom, two bath unit on the first floor with 1,583 sq.ft. of living space is priced at $411,500.

With a strong real estate market, and a low inventory of existing units for sale in Waterfront Village, Ellicott is moving forward with a second phase of townhouse units.  Plans by AP Architects call for two buildings- one with two units and a second with seven.  Prices for the new units will be in the $500,000 to $650,000 range with both two and three bedroom layouts.

Get Connected: Ellicott Development, 716.854.0060

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Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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