Another landmark building in downtown Buffalo is getting a new owner, and a makeover.
Developer Nick Sinatra confirmed that he has put the Spaulding Building at 763 Main St. under contract from Gelder Properties LLC, reportedly for $2.75 million. That beats its prior sale value of $2.4 million in 2008.
Sinatra said he plans to close by the end of the month, and will “upgrade the building over time” to keep its current tenants. Located between Tupper and Goodell streets, the building is home to architectural firm Foit-Albert Associates and the Spaulding Apartments, with 20 units that include studios, one-bedroom and two-bedroom apartments, renting for $850 to $950 per month.
Adjacent to the Sidway Building and across from the historic Buffalo Music Hall, the Spaulding is a three-story Beaux Arts Classical Revival steel-frame building with a brick and terra cotta facade. It was designed in 1906 by McCreary Wood & Bradney for Edward Rich Spaulding.
“It’s a great location near the Buffalo Niagara Medical Campus, with sought-after parking and tons of character and history,” Sinatra said.