A former Key Bank branch at the northeast corner of Elmwood and W. Utica has sold. Key Bank sold the single-story building to 531 Elmwood Ave LLC for $925,000. The building, built in 1975, sits on a .21-acre parcel with 108 feet of Elmwood Avenue frontage and parking for 26 cars.
The buyer is registered to a Rochester address and future plans are unknown. Buffalo Business First reports the buyer is Ellicott Development with “plans to expand the building and perhals add upper level, market-rate apartments.” Ellicott Development is partnering with Sinatra & Company Real Estate on the Children’s Hospital redevelopment and recently completed a corner intensification project, The Pardee, south of this site at Elmwood and Bryant that includes retail and office space plus 22 apartments.
The prime corner is ideal for redevelopment.