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Rand Building - Residential Conversion 14 Lafayette Sq 226,000 SF 75% Leased Office Building Buffalo, NY 14203 $6,999,000 ($30.97/SF)

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INVESTMENT HIGHLIGHTS

  • Prime location in Downtown Buffalo’s Central Business District.
  • Walkable location close to public transit, parking garages, restaurants and downtown amenities
  • Luxury residential conversion potential on multiple upper floors. Eligible for historic tax credits
  • Iconic Art Deco design. Architectural influence for the Empire State Building. 7 passenger elevators / large freight elevator
  • In close proximity to Canalside, the Cobblestone District & the Theater District. Easy access to the Kensington Expressway (Route 33) and (I-190)
  • Ideal for developers, office users and investors

EXECUTIVE SUMMARY

The Rand Building is a 29-story Art Deco landmark in the heart of Buffalo's Central Business District, presenting a rare opportunity to own a defining piece of the City of Buffalo's architectural legacy. Completed in 1929, and once Buffalo's tallest building, it remains a prominent fixture of the skyline offering investors and developers a compelling blend of historic character and long-term potential, in one of the city's most visible locations. This iconic structure is historic tax credit eligible, thus providing the ability to convert and create a timeless luxury residential component on the middle and upper tower floors.

PROPERTY FACTS

Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Building Size
226,000 SF
Building Class
B
Year Built
1929
Price
$6,999,000
Price Per SF
$30.97
Percent Leased
75%
Tenancy
Multiple
Building Height
29 Stories
Typical Floor Size
7,793 SF
Building FAR
17.29
Lot Size
0.30 AC
Opportunity Zone
Yes
Zoning
N-1D - N-1D (Urban Core / Downtown Hub)

AMENITIES

  • Bus Line
  • Metro/Subway
  • Wheelchair Accessible
  • Direct Elevator Exposure
  • Natural Light
  • Open-Plan
  • Air Conditioning

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Real Estate
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Providing their clients with exceptional service and a wide variety of opportunities in all aspects of commercial real estate has been Pyramid Brokerage Company’s mission for over 50 years. Located in upstate New York, they have decades-long connections and a deep understanding of the local markets and the communities they serve. Their agents and professional support staff will work tirelessly to achieve your objectives by staying up-to-date on market trends, pricing, and other relevant factors that could impact their clients. They also offer the region’s largest commercial real estate listing database. Whether their client is a tenant, small business owner, investor, developer, landlord or owner, they’ll provide customized solutions that meet their unique needs. Their comprehensive services include investment sales, leasing, tenant representation, and property management.

  • Professional, Scientific, and Technical Services
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Feldman Kieffer is a privately held law firm headquartered in Buffalo, New York. Established in 1993, the firm provides legal services across civil litigation, health law, business law, and professional liability. It represents corporations, insurance carriers, self-insured businesses, and individuals throughout New York State and beyond. Feldman Kieffer is recognized in Martindale-Hubbell’s Bar Register of Preeminent Lawyers and Best’s Directory of Recommended Insurance Attorneys, reflecting its reputation for high ethical standards and legal ability. The firm operates multiple offices in Buffalo, Syracuse, White Plains, and Dewittville, offering counsel in trial and appellate practice at both state and federal levels. Its approach emphasizes innovative solutions and cost-effective strategies tailored to client needs.

  • Professional, Scientific, and Technical Services
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established in Buffalo, New York in 1826, has offices in Buffalo, Kenmore and Niagara Falls, New York. firm provides a full range of legal services to businesses, governments, individuals, and not-for-profit organizations. With a tradition of excellence as our heritage, attorneys' principal areas encompass corporate and general business law, wills and estate planning, elder law, trusts and estates administration, individual and corporate tax planning, health care law, real estate, municipal law, immigration, commercial finance, litigation in all New York state and federal courts, and bankruptcy. practice includes representation of financial institutions in commercial transactions, the full spectrum of business needs, and representing business interests, both established and start-up, as well as municipalities and health care institutions. The firm is also highly regarded in traditional personal lines such as real estate.

  • Professional, Scientific, and Technical Services
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There is a myriad of law firms to handle simple day-to-day defense cases. However, they are one of the select few capable of effectively resolving the most complex cases in a cost effective and innovative manner. Their legal team possesses the highest quality legal expertise to achieve the successful results. Their philosophy is to formulate and implement creative answers to the legal problems confronting our clients, in the most expeditious and economical fashion possible. Maintaining their stature as a smaller firm allows them to provide exceptional personalized service. Unlike busy and impersonal larger firms, are always immediately accessible to address any legal needs. They are the resource to accomplish solutions to the most predominant and intense legal issues challenging clients.

  • Finance and Insurance
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NCAComp, Inc. is a privately held third-party claims administrator headquartered in Buffalo, New York. Founded in 1991, the company specializes in managing workers’ compensation and disability claims for self-insured employers, insurance carriers, and public entities. NCAComp provides ancillary services such as nurse case management, medical bill review, and reimbursement recovery, leveraging proprietary technology to streamline claims administration and cost containment. The firm operates under a New York State Certified Minority and Women-Owned Business Enterprise designation and employs approximately 95 professionals. NCAComp serves clients across New York State and nationwide, focusing on compliance, transparency, and efficient claims resolution.

  • Finance and Insurance
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Northwest Bank is a regional financial institution headquartered in Warren, Pennsylvania, with a branch at 14 Lafayette Square in Buffalo, New York. Founded in 1896, the bank operates as the principal subsidiary of Northwest Bancshares, Inc. (NASDAQ: NWBI). It provides a comprehensive range of services including personal and business banking, mortgage lending, wealth management, and treasury solutions. Northwest Bank serves customers through approximately 135 branches across Pennsylvania, New York, Ohio, and Indiana. The Buffalo branch, located in the historic Rand Building, has been in operation since 1925 and offers full-service banking, safe deposit boxes, and private banking options. The institution is FDIC-insured and emphasizes community engagement and customer-focused financial solutions.

  • Finance and Insurance
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Rand Capital Corporation is a publicly traded business development company (BDC) headquartered in Buffalo, New York. Founded in 1969, Rand focuses on providing debt and equity financing to privately held, lower middle-market companies across diverse industries. The firm became a Nasdaq-listed company in 1971 under the ticker symbol RAND and converted to a BDC in 2001. Rand’s investment strategy targets businesses with revenues exceeding $10 million and EBITDA above $1.5 million, typically investing between $0.75 million and $5 million per transaction. In 2019, Rand entered an external management agreement with Rand Capital Management, LLC to oversee its investment activities. The company emphasizes long-term partnerships and governance oversight, aiming to deliver shareholder returns through income generation and capital appreciation.

  • Professional, Scientific, and Technical Services
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Sugarman Law Firm, LLP is a full-service litigation firm founded in 1909 and headquartered in Syracuse, New York, with regional offices in Buffalo and Auburn. The firm represents a diverse client base including individuals, families, businesses, architects, engineers, physicians, and insurers. Its practice areas encompass personal injury, professional malpractice, construction law, insurance defense, real estate, estates, and appellate litigation. Sugarman Law Firm is recognized for its courtroom advocacy and alternative dispute resolution capabilities, including mediation and arbitration. The firm remains privately held and employs approximately 50 attorneys and staff across its locations. With over a century of experience, Sugarman continues to provide legal counsel and representation throughout New York State.

  • Information
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Townsquare, founded in 1994 and based in Purchase, NY is a community-focused digital media and digital marketing solutions comp.ny with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Their assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for SMBs

  • Professional, Scientific, and Technical Services
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Walsh Roberts & Grace was founded in 1985, to offer high-quality legal services to clients in the field of personal injury law. They pride themselves in maintaining a long-standing, old-fashioned tradition of personal, yet comprehensive legal service, coupled with the substantive resources of a much larger firm.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Real Estate - - -
Professional, Scientific, and Technical Services - - -
Professional, Scientific, and Technical Services - - -
Professional, Scientific, and Technical Services - - -
Finance and Insurance - - -
Finance and Insurance - - -
Finance and Insurance - - -
Professional, Scientific, and Technical Services - - -
Information - - -
Professional, Scientific, and Technical Services - - -
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
140200-111-130-0006-002-000
Land Assessment
$139,000
Improvements Assessment
$4,611,000
Total Assessment
$4,750,000
  • Listing ID: 36430377

  • Date on Market: 6/26/2025

  • Last Updated:

  • Address: 14 Lafayette Sq, Buffalo, NY 14203

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