A Morgan Stanley financial adviser has acquired a three-story limestone mansion in the Elmwood Village that is currently set up as office space, but he and his wife may seek to convert it back into a home for themselves.
Emir Culov of East Aurora, a senior vice president and portfolio management director in the Fountain Plaza office of the brokerage firm, paid $585,000 through Stonehouse Vision to acquire the property at 305 Elmwood Ave. Reached by phone, he said the purchase is purely personal, with no connection to his work.
The seller was 305 Elmwood, which consists of Steven Tokarczyk and Jonathan Heraty, the co-owners of Elite Senior Living, the building's occupant. Founded in 2006, the senior long-term care company operates four skilled-nursing facilities in Wisconsin and New Jersey.
Built in 1888 in the Colonial Revival style, the 4,702-square-foot mansion sits on 0.11 acres between Summer and Bryant streets. It features hardwood floors, wainscotting, fireplaces, a front porch and rear deck, pointed chimneys and a security system, according to a real estate listing by Hastings Cohn Real Estate, which had listed it for $600,000.
The home was first occupied by William C. Warren, publisher of the Buffalo Commercial newspaper, who lived there with his wife in 1892, according to the Buffalo Architecture & History website. By 1915, Judge Charles B. Wheeler lived there, but it later became a commercial office building, like many of the other former mansions on Elmwood. Culov said Elite was moving to Amherst, but Elite officials could not be reached to comment.
Culov said he and his wife are "still deciding on final plans," which could include leasing the mansion out again as office space. However, they also are considering whether to restore the building into a residence. That depends in part on zoning, as he said the site is currently listed as commercial.
"We just love the house," Culov said.
Regardless, though, he said the couple will start with interior renovations, including upgrading electrical and gas lines, as well as "pulling out shelving" that dates to the 1970s.
"It's a fairly decent renovation," he said. "We're not sure when it will be done, hopefully this summer."