In just a few months, 716 Realty Group has neared the halfway mark with 39 units under contract at The Bethune condominium project located at 2917 Main Street. Ciminelli Real Estate Corporation is converting the 87 apartments in its Bethune Lofts complex into condominiums. Pricing starts at $145,000 to the low $300’s. The building, adjacent to Bennett High School and one block from the LaSalle light rail station, was converted to residential in 2013.
Due to the region’s strong rental environment and tough purchasing market, Ciminelli saw this conversion as an opportunity to offer affordable luxury condos for purchase as an attractive alternative to purchasing a single or multi-family home.
“The condominium market has remained strong from listing earlier this year through the summer months. We continue to have numerous showings every week and positive feedback from everyone that has come to see the property” says Steven Persico, Broker at 716 Realty Group.
Of the 87 apartments, 37 are one-bedroom units. There are 28 different floorplans in the building and original features such as fluted columns, brick walls, first floor loading dock doors, and fireplaces, have been incorporated into the units. Eleven of the fourth floor apartments are two-bedroom, two-story units with the master bedroom on the fifth floor. A one-level, 1,250 sq.ft. penthouse unit on the Main Street side of the setback fifth floor has two-bedrooms and 270 degree views.
Units feature white oak flooring in the main living areas, carpeted bedrooms, stone tile in the bathrooms, stainless steel appliances, maple cabinets, solid surface countertops and tile backsplashes. Units are spacious with ceiling heights up to fourteen feet. Carmina Wood Design was the architect for the conversion project.
“It’s been a really exciting time going through the process of converting the building, our first residential redevelopment, to not only fill the clear demand in Buffalo’s housing market, but to create value for our investors as well,” commented Kyle Ciminelli, Executive Vice President at Ciminelli Real Estate Corporation. “I commend our team, coupled with 716 Realty Group, for effectively handling this condominium process, making it as seamless as possible for our new homeowners.”
The 716 Realty sales team will have the building available on October 28th from 1:00-3:00 PM providing guided tours for the public interested in purchasing a unit.
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