By this time, it’s safe to say that an investment into Connecticut Street on the city’s West Side is a solid bet when it comes to investing in properties. Over the course of the last five years, we have seen numerous building renovations, on a street that is, for the most part, dense with great architecture.
Connecticut Street is the corridor between Niagara Street (at The Armory), and Richmond Avenue. D’Youville College continues to invest in the street, and in the surrounding neighborhood. Over the last few weeks we have seen a number of new businesses come online, including a hair salon and a yoga studio – both opened in fully renovated structures.
Connecticut Street is home to Horsefeathers Winter Market and Residences, which houses Perks, and a number of other destination businesses. BreadHive built its home on the street, as did Burning Books. There are plenty of new businesses, and a number of old timers to boot. Today, most of the significant buildings on the street are spoken for – even this one at 319.
At this point, finding an investment on Connecticut Street is tough. But one significant brick structure has come up on the market – 463 Connecticut Street. At one point, I talked to the owner of the building who was hoping to one day open a live music café, but it appears that he has changed his mind. Now he’s got it up for sale. The property comes with a small vacant lot across the street, for a total sale price of $295,000.
A solid investment into this building would be another significant advancement for Connecticut Street. Once someone tackles this building, there are only a few much smaller properties left that have not been properly renovated. Hopefully, the owners of those few vacant and boarded up properties, or facades with hack job renovations, get the signal that the time has come to either sell, or invest. The time is now, for Connecticut Street.
Hastings & Cohn has the listing:
463 & 466 Connecticut Street
Building Lot Size: 30 x 116
Vacant Lot: 26 x 116 (across the street)
Building Size: 6840 sq. ft. (3420 sq. ft. per floor)
Building is fairly gutted and ready for rehab
High 12 ft ceilings
Historical Tax Credit available to assist in rehab costs
Located near D’Youville College
Up and coming area featuring new residential, restaurants and retail
$295,000 sale price includes building and lot
Click here to see the listing | Jay Newman @ 716-609-3543