Listed by HUNT Commercial
$2,980,000
203 Pratt St
Details
Property Type Multifamily, Industrial
Sub Type Warehouse, Historic rehab reuse
Square Footage 149,000
Tenancy Vacant
Broker Co-Op Yes
Class C
Year Built 1896
Year Renovated 1900, 1935, 1960
Buildings 10
Stories 3
Acreage 7.500
Zoning N-1S Secondary Employment Center, D-C Flex Employment District
Investment Type Redevelopment
Ground Lease No
Ownership Crosby Realty,LLC
Industrial to Reuse, Redevelopment 220000 Sq Ft
Marketing description
A long, underutilized, and substantially vacant portion of the Crosby Company Campus is available for sale as a Reuse Project or Historic Rehabilitation Redevelopment.
The Crosby Company, celebrating 129 years of manufacturing in Buffalo, continues in business at the site, utilizing the remainder of the Campus.
These buildings have not been used in several years, and it is time to put them to good use in the community as a Reuse Project.
We now have newly added space (81,000 sq ft) bringing the total available building square footage to 149,000 sq ft, encompassing the entire west side of the campus. The property in this configuration sits on approximately 50% of the current Campus, or approximately 3.5 acres of land with of mostly brick buildings to potentially renovate into apartments or "Live-Work" spaces or other use. The property consists of 4 vacant land parcels and 10 buildings of various sizes, from one to 4 stories. The buildings are to be subdivided from the primary parcel at 412 William. (Several SBL #s)
Investment highlights
- There is potential for some or all of the following at this site:
- Historic tax credit (HTC)
- 20% NYS HTC + 20% federal HTC
- brownfield cleanup program (BCP)
- En-zone (environmental zone)
- boa (brownfield opportunity area)
- As well as:
- 20% NYS BCP Tangible Property Credit
- Up to 24% credit if Track 1 cleanup or affordable housing
- City of Buffalo 485-a (Multi Year tax abatement)
- Erie County adaptive reuse (sales & mortgage tax exemption)
- NYS Consolidated Funding Application (CFA) grants
- Utility Company Grants and Support
- National Grid & National Fuel
- -Low-Income Housing Tax Credits (LIHTC)
- The current zoning is N-1S Secondary Employment Center and D-C Flex Employment District.
Listing Contacts
Listed by HUNT Commercial
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