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Big Deal: 85 W. Chippewa Street Sold

Did someone say Chippewa was dying?  If so, someone should have clued in the buyer of 85 W. Chippewa.  Marathon Properties LLC of Sarasota, Florida purchased it today for $1.16 million.  MMK Buffalo LLC was the seller.

The three-story, 5,370 sq.ft. building contains the Tap House Pub and Grill and residential space.  It had a $1,199,999 asking price.  From the Keller Williams Realty listing:

Prime location Downtown Buffalo NY! Mixed use building & turn-key business. Currently operating as profitable bar & grill, with rented apartments. Fantastic Outdoor bar/seating area too. Located in high traffic area downtown & steps from four major hotels (Westin, Hyatt, Embassy Suites & Hampton Inn), as well as Delaware North (multi-billion headquarters mixed use building) & the Avant (mixed use tower offices, luxury residence & hotel). Located on Chippewa St. (well known nightlife area). No shortage of traffic here. Current clientele is 25% local/ 75% visitors. Several upgrades: Electric – new line to building, interior lines, meters/boxes; plumbing- galvanized pipes replaced with PVC on 1st & 2nd floors & from building to sewer; sprinklers, doors, drywall up to current fire code. $1200 for 2 bed, $1000 studio (sep meters) on 2nd floor. 3rd floor – in process of being converted into two additional apartments. Purchaser to finish.

Written by Buffalo Rising

Buffalo Rising

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