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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.
  • Historic Tax Credit Eligible for Luxury Residential and/or Boutique Hotel conversion.
  • Iconic Art Deco design. Architectural influence for the Empire State Building.
  • https://www.marriott.com/en-us/hotels/msptr-rand-tower-minneapolis-a-tribute-portfolio-hotel/overview/
  • Ideal for developers, hoteliers, 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 and/or boutique hotel component on the middle and upper tower floors. See Hotel Conversion example here:
https://www.marriott.com/en-us/hotels/msptr-rand-tower-minneapolis-a-tribute-portfolio-hotel/overview/

Property Facts

Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Property Subtype
Office/Residential
Building Size
226,000 SF
Building Class
B
Year Built
1929
Price
$6,999,000
Price Per SF
$30.97
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 - Intended to support a mix of office, retail, residential, hospitality, civic, and service uses in Buffalo's downtown core while encouraging walkability, adaptive reuse, redevelopment, and active street-level activity.

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
  • -
  • -
  • -

Cushman & Wakefield | Pyramid Brokerage Company, formerly Pyramid Brokerage Company, began in 1971 in Syracuse as a residential and commercial real estate firm before shifting to commercial real estate only. The company now serves upstate New York as a Cushman & Wakefield Alliance member and works across brokerage, leasing, tenant and buyer representation, investment sales, property management, receivership, project management, facility management, and related advisory services. The business also covers retail, office, industrial, investment, hospitality, and impaired asset assignments, using local market knowledge alongside Cushman & Wakefield resources. The Corning/Elmira office reflects that regional model, supporting commercial real estate needs in Corning, Elmira, and nearby markets.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -

Feldman Kieffer began in 1995 as a New York law firm and has grown into a practice centered on litigation and counseling for clients across the state. The firm handles general litigation, professional negligence, corporate and business law, employment, health care, real estate, environmental law, and general counseling. Feldman Kieffer advises corporations, insurers, professionals, health care providers, small business owners, individuals, municipal corporations, school districts, utility companies, and authorities. The firm's work includes risk analysis and management, corporate restructurings, and support for matters that range from insurance disputes and disability claims to intellectual property and debt collection.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -

Magavern Magavern Grimm LLP began in 1826 and has built a long-running legal practice serving business and individual clients. The firm handles business law, litigation, real estate, estates and trusts, employment, municipal, tax, and elder law, giving the practice a broad mix of transactional and dispute work. Its client base includes businesses, governments, individuals, and communities, reflecting a general practice built around commercial matters and personal legal needs. The firm remains rooted in Western New York while maintaining work that reaches beyond the region.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -

Mura Law Group, formerly Mura & Storm, PLLC, is a Buffalo-based law firm that began in 2006 and has built its practice around insurance coverage analysis, insurance defense, commercial litigation, appellate work, fraud defense, and no-fault arbitration and litigation. The firm represents clients across New York in state and federal courts and handles complex disputes in a cost-effective way. The firm's attorneys work on first-party property claims, third-party liability matters, declaratory judgment actions, examinations under oath, and subrogation-related disputes.

  • Finance and Insurance
  • -
  • -
  • -

NCAComp, Inc. began in 1991 as a third-party claims administrator focused on New York State workers' compensation and disability claims. Over time, the company expanded its service mix to include claims administration, workers' compensation program design, nurse case management, medical bill review, safety and loss control consultation, reimbursement and recovery services, and excess insurance brokerage. NCAComp works with public and private organizations, insurance companies, nonprofits, and government agencies, and the business serves clients across the United States while maintaining a focus on workers' compensation self-insurance and related claims services.

  • Finance and Insurance
  • -
  • -
  • -

Northwest Bank began in 1896 and has grown into a Pennsylvania-chartered savings bank within Northwest Bancshares' financial services group. The company offers personal and business banking, lending, payments, employee benefits, wealth management, trust, and insurance-related services. Northwest Bank serves consumers, small businesses, corporations, and municipalities across a multi-state footprint in the Northeast and Midwest, with a broad branch network supporting retail and commercial banking needs.

  • Finance and Insurance
  • -
  • -
  • -

Rand Capital began in 1969 and has since focused on investing in growing and transitioning businesses. The company is an externally managed business development company that targets debt and related equity investments in privately held lower middle market companies across a broad range of industries. Rand Capital also invests in businesses with sustainable, differentiated, and market-proven products, aiming to support current income and capital appreciation through long-term investment relationships.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -

Sugarman Law Firm began in 1909 and has grown into a New York litigation practice with a broad civil and criminal defense portfolio. The firm handles medical malpractice, personal injury, insurance coverage, commercial litigation, criminal law, municipal law, construction litigation, labor law violations, trucking litigation, and arbitration and mediation. The practice also covers matters involving architects, engineers, design professionals, insurance defense, professional liability defense, and appeals work, giving the firm a mix of courtroom and transactional experience. Sugarman Law Firm serves individuals, businesses, municipalities, insurers, and other professionals across a regional New York legal market while maintaining a long-running focus on dispute resolution and trial work.

  • Information
  • -
  • -
  • -

Townsquare Media began in 2010 and was formerly known as Regent Communications before adopting its current name. The company owns and operates radio, digital, marketing services, and live event properties, and its business also includes digital marketing solutions for local advertisers. Townsquare Media focuses on markets outside the largest U.S. metro areas and combines broadcast radio with companion websites and digital advertising products. Its portfolio includes subscription-based digital marketing services, search engine optimization, social platforms, online reputation management, and other tools used to help businesses reach customers online.

  • Professional, Scientific, and Technical Services
  • -
  • -
  • -

Walsh Roberts & Grace was founded in 1985 to provide legal services in personal injury law, and the firm has since built its practice around civil litigation and trial work. The firm handles personal injury and related matters, including general civil practice, negligence, and appellate work, with services that span New York and federal trial and appellate courts. Walsh Roberts & Grace operates as a collaborative legal practice built on personal service, combining a small-firm approach with the resources needed for broader litigation matters.

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 - - -
Moderately walkable
70/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
40/100

Property Taxes

Property Taxes

Parcel Number
140200-111-130-0006-002-000
Land Assessment
$368,500
Improvements Assessment
$7,641,500
Total Assessment
$8,010,000
  • Listing ID: 36430377

  • Date on Market: 6/26/2025

  • Last Updated:

  • Address: 14 Lafayette Sq, Buffalo, NY 14203

Contact the Sale Advisor

Rand Building-Resi/Boutique Hotel Conversion | 14 Lafayette Sq

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