CBRE Upstate brokers $3.2
million sale of 11-property portfolio

Buffalo, NY CBRE Upstate NY, an affiliate of CBRE, negotiated the $3.2 million sale of an 11-property portfolio along Humboldt Pkwy. to Dofi Properties, a Buffalo-based development firm led by CEO Justin Fineberg and Dr. Marc Fineberg.

The portfolio consists of homes located at 2 Agassiz Circle; 73, 77, 81, 85, 91, 95, 103, 107, 117, and 121 Humboldt Pkwy. which were previously home to Medaille University’s administrative offices. Dofi Properties acquisition coincides with a $7 million project to convert the properties back to residential use with a total of 26 high-quality apartment units.

CBRE Upstate NY’s brokerage team of Shana Stegner, Julie Greene, and Sarah Cashimere-Warren represented Trocaire College in the sale of the portfolio.

“These homes have a rich history, and you can see the craftsmanship that once defined them,” said Justin Fineberg, CEO of Dofi Properties. “We’re excited to transform these underutilized office spaces back to residential use with thoughtfully designed apartments that help meet Buffalo’s growing need for quality housing.”

The redevelopment project is scheduled to begin immediately, with Silvestri Architects PC serving as the project architect and Hayes Construction as the general contractor. 

The redevelopment will modernize the interiors while preserving the original architectural features, offering residents a blend of historic charm and modern comfort just steps from Delaware Park.

“Dofi’s interest and vision presented a best-case scenario for this collection of properties,” said Shana Stegner, managing director of CBRE Upstate NY’s Buffalo office. “A conversion away from office made the most sense and it will be great to see these properties turn into residences once again.”