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Building Update: Downtown condo conversion

Building Buffalo is a regular feature highlighting progress on development projects throughout the region.

Project name: Historic Warehouse Lofts condo conversion

Address: 210 Ellicott St.

Developer: Schneider Development LLC

Cost: Sale of renovated units at $215,000 to $365,000 each

Description: Condo conversion of redeveloped apartment building

Completion date: Ongoing

Lowdown: Architect-turned-developer Jake Schneider’s plan to convert his renovated Historic Warehouse Lofts apartment building into condominiums seems to be paying off.

One year after first putting them on the market for sale in April 2015, Schneider Development has sold 21 of the 30 residential units at 210 Ellicott St., putting him well on the way to completing the conversion by year-end.

The 13 one- and 17 two-bedroom apartments have been selling for prices ranging from $215,000 to $365,000. Nine units are still for sale, including five with single bedrooms and four with two.

Schneider said he’s hopeful that the seven-story building will be completely sold out by the end of the year. “We’re obviously very pleased with the progress,” Schneider said. “There is most certainly a demand for condos like ours at the price point we are offering. I’m optimistic.”

Schneider spent $7.5 million converting the former Seneca Paper Co. warehouse into the new apartment building, which reopened for tenants in 2007. Originally built in 1913, the building was one of the first concrete-frame warehouses in the country, and was considered a “contributing structure” within the AM&A Historic District. As such, the project received historic tax credits to help cover the renovation cost, but that also restricted Schneider from turning it into condos until after the first five years of operation.

The building has six units on each of the top five floors, ranging in size from 950 to 1,600 square feet, and renting for $1,050 to $2,000 per month. There’s also 8,800 square feet of commercial space on the second floor, a basement storage area and 60 parking spaces.

– Jonathan D. Epstein