
Buffalo, NY Robert Stewart and Robert Schell, SIOR of Cushman & Wakefield/Pyramid Brokerage Company Buffalo brokered the sale of the Williams-Butler Mansion located at 672 Delaware Ave. to Douglas Development Corp.
Built in 1896, this is one of the most storied properties in the regional market and is on the National Register of Historic Places. Designed by Stanford White, the property consists of a 20,644 s/f mansion and a 7,887 s/f carriage house on 3.24 acres. The Williams-Butler Mansion is an example of the world-class architecture available on Millionaire’s Row in the Delaware Preservation District.
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,