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Big Deal: Richmond Avenue Properties Sold

An apartment building that could have been from the set of Rapunzel at the corner of Richmond Avenue and Connecticut Street and an adjacent residential building and duplex have new owners. Sutton Development and partners purchased 232 and 240 Richmond Avenue and 19 Ripley Place on Monday and have plans to significantly upgrade the properties.

The corner building at 232 Richmond contains 17 apartments and 9,662 sq.ft. of space and was purchased for $659,000. 240 Richmond next door with 26 units and 11,326 sq.ft. of space and a duplex at 19 Ripley Place was purchased for $1.625 million. Stephen Townsend was the seller of all of the properties.

Sutton has a number of top-notch Allentown renovation projects under his belt including The Puritan at 228 Allen Street, the Chelsea at 244 Allen, the Coatsworth Mansion at 49 Cottage Street, 149 Elmwood Avenue, and is working on plans for a boutique hotel near Gates Circle.

Sutton isn’t providing details on the upgrades planned for the properties but he’s thrilled about the possibilities.

“I’m very excited to be part of realizing the potential of the buildings and the corner,” says Sutton. “This is the gateway to Connecticut Street and the West Side.”

Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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