An interesting development opportunity has emerged in one of Buffalo’s most dynamic transitional neighborhoods. The 75,500 square foot historic property at 129-137 Tonawanda Street, comprising two connected buildings on 2.5 acres of potential Brownfield Cleanup Program (BCP) eligible land, is now available for $2.15 million.
The property consists of two structurally sound buildings: a 32,325 square foot, 3-story structure and a 43,250 square foot, 4-story building. Both buildings are connected by a shared freight elevator shaft and stair tower, with existing infrastructure that supports compliant vertical egress and optimal building dimensions for efficient double-loaded apartment layouts.
“This property represents a unique opportunity to invest in a site that bridges established neighborhoods, with zoning and infrastructure already in place to support a range of development visions,” said Matt Hartrich of Schneider Real Estate Services, who is handling the listing.
Located on Tonawanda Street, a key arterial link connecting the Amherst Street commercial corridor, North Buffalo’s major retail centers, and the Upper West Side’s revitalized Niagara Street, the site sits at the crossroads of emerging economic, residential, and cultural activity. Recent years have seen a surge in new loft-style residential conversions, thriving local businesses, and streetscape enhancements—including bike infrastructure.
The property provides immediate access to the Scajaquada Expressway (198), I-190 Interstate, and multiple high-ridership bus lines (#5, #32, #40), developers can offer seamless connectivity across the city and region. Buffalo State University, a major educational and cultural anchor, is just minutes away, adding further appeal to prospective tenants or buyers.
Perhaps most compelling is the property’s position directly abutting Scajaquada Creek and the adjacent bike path, providing both recreational value and adjacency to ongoing environmental restoration studies—an added layer of future-forward planning and appeal.
Key Property Features:
- Buildings in sound structural condition, ranging from moderate to very good
- Adequate public utility infrastructure in place and accessible at the site
- Existing stair towers in each building support compliant vertical egress
- Shared freight elevator shaft and stair tower connect both buildings
- Optimal building dimensions for efficient double-loaded apartment layouts
There are an extensive array of incentives and programs available to developers. The property has preliminary historic approvals submitted with a draft Part I application on file, making it eligible for both 20% New York State Historic Tax Credits and 20% Federal Historic Tax Credits.
Additionally, a draft Brownfield Cleanup Program application has been submitted to NYS DEC. The site is located in both an Environmental Zone (EN-Zone) and Brownfield Opportunity Area (BOA), making it potentially eligible for a 20% NYS BCP Tangible Property Credit, with up to 24% credit available for Track 1 cleanup or affordable housing developments.
Developers can also take advantage of the City of Buffalo’s 485-a multi-year tax abatement, Erie County adaptive reuse sales and mortgage tax exemption, NYS Consolidated Funding Application (CFA) grants, and utility company grants and support from National Grid and National Fuel. Low-Income Housing Tax Credits (LIHTC) are also available for qualifying projects.
“The combination of historic tax credits, brownfield cleanup incentives, and local tax abatements creates a compelling financial framework for the right developer,” Hartrich noted. “We’re looking for a developer who can see the potential in this transitional neighborhood and capitalize on the momentum that’s already building.”
This area of Buffalo is experiencing the same type of transformation that revitalized other neighborhoods throughout the city. With bike infrastructure improvements, environmental restoration projects, and the proximity to Buffalo State University, this section of Tonawanda Street is positioned for significant growth.
The site offers flexibility for various development visions—from mixed-use and multi-family residential to commercial or creative redevelopment. The existing building infrastructure, combined with the extensive incentive programs available, provides developers with multiple pathways to create value while contributing to the neighborhood’s continued evolution.
Get Connected: Schneider Real Estate Services: (716) 983-4789 | matth@schneiderservices.com
All showings must be scheduled and accompanied. No unauthorized site visits permitted.
