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.