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Done Deal: Touraine Apartment Building

A Connecticut-based affordable housing developer has purchased an historic Delaware Avenue property. Vesta Corporation bought the Touraine Apartment building at 274 Delaware for $9 million. Touraine Apartments Associates Limited Partnership was the seller.

The former Touraine Hotel opened in 1902 and was designed by Esenwein & Johnson. A four-story annex opened in 1923 and the property was converted to 104 apartments in 1982.

Vesta Corporation was created in 1998 by Steve Erie and Arthur Greenblatt. It is a leading real estate firms pecializing in the acquisition, development, and management of multi-family and senior affordable housing. Vesta has closed over $1 billion in financing for the development of more than 20,000 apartment homes in 13 states and the District of Columbia.

Written by Buffalo Rising

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