24 S Johnson Park - Apartments FOR SALE


Buffalo, NY 14201- Downtown Buffalo
$5,495,000 USD
716-852-7500
24 S Johnson Park, Buffalo, NY for Sale
$5,495,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

24 S Johnson Park
Buffalo, NY 14201
Downtown Buffalo


HIGHLIGHTS

  • The Graystone, a 42-unit apartment building, offers 30 one-bed/ one-bath units, six two-bed/ two-bath units, and six studio units.
  • In Downtown Buffalo, a suburban neighborhood known for work, play, and liveliness in the heart of the city.
  • There are modern finishes and features throughout the historic building's units.
  • Apartments dominate downtown, with 93% of residents renting.

OVERVIEW

As the exclusive agent, Cushman & Wakefield | Pyramid Brokerage Company is pleased to present for sale The Graystone in the Central Business District of Buffalo, New York. The property consists of 42 apartment units ranging from 533 to 944 square feet. The building is on an approximately 0.19-acre lot at 24 South Johnson Park, mid-block between South Elmwood Avenue and Delaware Avenue. The site is easily accessible from the Niagara Thruway (Interstate 190) using exit 8, Virginia Street, and the Kensington Expressway (Route 33). The Graystone is within a half mile of Niagara Square, the Buffalo Convention Center, and Shae's Theatre, and less than two miles from Canalside, a popular waterfront destination. The Graystone is a six-story Italian Renaissance building constructed between 1894 and 1897. The building is architecturally significant as one of the earliest examples of reinforced concrete technology in the United States and is listed on the National Register of Historic Places. The redeveloped Graystone offers updated, contemporary-designed, attractive living spaces. Current and future tenants benefit from the building's proximity to downtown's many cultural and entertainment destinations. Restaurants in the area and within walking distance include Buffalo Chophouse, Dinosaur BBQ, and Frankie Primo's. Several entertainment venues, including Shea's Performing Arts Center, Alleyway Theatre, and Town Ballroom, are all nearby The Graystone. For further financial information, please reach out directly to receive the confidentiality agreement.

FOR SALE DETAILS

PRICE

$5,495,000 USD

PRICE/SF

$114 USD /SF

# OF UNITS

42

PRICE/UNIT

$130,833

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Graystone

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

1897

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,242 SF

ZONING

N-1C

APN/PARCEL ID

140200-111-370-0003-003-000

ASK ABOUT THIS PROPERTY

Robert StewartCushman and Wakefield/Pyramid Brokerage CompanyMore Info
716-852-7500

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Robert StewartCushman and Wakefield/Pyramid Brokerage CompanyMore Info
716-852-7500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.