A former rooming house at 69 Whitney Place has a new, more than capable, owner. Ernst Valery Investment Corp., based in Baltimore, purchased the gutted property located at the southeast corner of Carolina and Whitney today for $189,900. Peter Faris of Rochester, who bought the property at an in-rem auction in 2018 for $32,000, was the seller. Faris cleaned out and stabilized the building including significant repairs to the structure’s collapsed roof.
Ernst Valery Investment Corp. is no stranger to Buffalo but its local work has been on a much larger scale than its Whitney Place purchase. The private real estate investment firm was established in 2001 and incorporated in 2004 by Ernst Valery for the purpose of investing in urban transitional areas with high residential and retail demand. Valery was a partner in The Forge residential project on Broadway, The Parkview Apartments at the corner of Fillmore Avenue and Best Street, and is working on plans for a two-building, 230 apartment project on a portion of the Pilgrim Village site north of the Medical Campus.
The future of 69 Whitney was grim for some time. In February 2018, the “X” of Death was spotted on the building, a red X in a square signaling that utilities had been disconnected. The ‘branding’ raised a lot of concern due to the structure being located in one of Buffalo’s most architecturally interesting blocks. In this case, it was a buckling mansard roof and crumbling chimney that was most concerning for the West Village Historic District property. At the time, the Israeli owner, Efraim Ullman, was seeking $700,000 for the property, due to its prime location. Ullman eventually lost the property due to back taxes and subsequent work set the stage for future investment.
Some building background from the property listing:
HUGE property in a great location! Bring your vision to this nearly 6,000 square foot brick building at the gateway to “one of Buffalo’s most architecturally interesting blocks”, just a five-minute walk from Chippewa Street and Downtown. Exterior work completed includes a brand-new roof (over $100k invested just in the roof), fresh paint, re-faced cement porches & a new Bilco door. Through the grand double entry doors, you’ll find a curved staircase with niche, 3 original fireplaces, patterned hardwood flooring, wainscoting, and plaster molding and accents. Property features off-street parking with a curb cut and its own brick driveway. Featuring 3rd-floor staircase- finish it off for more living area. including a full bathroom.
The building was most recently used as a rooming house and has significant water damage from “before” the roof was replaced, but don’t miss this rarely available West Village “blank slate”. It’s loaded with potential and ready to be adapted to your plans with City approvals. Zoned N-2R Property also listed as multi family.