News:
Brokerage
Posted: April 5, 2016
Ellicott Development renovates 56,000 s/f 960 Busti Ave. in Buffalo
Rendering of 960 Busti Avenue - Buffalo, NYBuffalo, NY 960 Busti Ave. is located near the Peace Bridge in an area going through long awaited and anticipated changes. This property is a portion of the positive development occurring in the Niagara St. corridor. A variety of private sector interest and investment is going into the area, including the work on 960 Busti by Ellicott Development, a full service real estate management and development company with over 40 years of experience.
In 1922 when 960 Busti was originally constructed, the property was a service building for the Buffalo General Electric Co. until around 1968. After, Multiform Desiccants occupied the building until 1995. Following their vacancy the building remained untouched for 20 years. Ellicott Development purchased the 56,000 s/f building at the intersection of Busti Ave. and Niagara St.
Upon completion, the building will be mixed use divided by residential, commercial, and retail space. The first two floors will include 27,500 s/f of commercial and retail space, while floors three and four will include 23,000 s/f of residential space. The residential space will consist of 18 market-rate apartment units in one, two, and three bedroom configurations.
Ellicott Development is working with the State Historic Preservation Office to complete renovations. The building will be restored and cleaned in a way that enhances the nature of the circa 1930 building. This involves cleaning and restoring the exterior masonry where needed, replacing in-kind the existing windows, cutting in new window openings, restoring the original wood windows, and reopening previously in-filled window openings. The former first floor loading bays will be in-filled with a storefront glass system. In addition, a new handicap ramp and industrial style canopy will be added on to accompany the building’s new main entrance, located within one of the former loading bays.
The adaptive reuse of previously vacant building adds to the recent momentum seen in this section of the city by bringing a mix of new residential and commercial tenants to the neighborhood.
Tags:
Brokerage
MORE FROM Brokerage
King and Slattery of Lee & Associates NYC arrange 5,250 s/f office lease for Roux at 14 Penn Plaza
New York, NY Lee & Associates NYC has arranged a 5,250 s/f office lease on a portion of the 17th floor at 225 West 34th St., also known as 14 Penn Plaza, on behalf of Roux, a leading environmental consulting and management firm.
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,