First Federal Plaza 26-28 E Main St 383,000 SF 4-Star Office Building Rochester, NY 14614 $10,800,000 ($28.20/SF)
INVESTMENT HIGHLIGHTS
- Ideally Positioned Riverfront Redevelopment Opportunity
- Adjoining 604 Space Municipal Garage
- Riverfront Terrace
- 156 Space Underground Garage
- Exterior Glass Elevator
- Potential For 3rd Floor Rooftop Space
EXECUTIVE SUMMARY
From its perch overlooking the Genesee River, First Federal Plaza provides a unique blend of modern updates, retro-cool style, and untapped potential. The property is currently 45% occupied, presenting a unique window of opportunity to redevelop several floors of the main tower for multi-family residential or other potential uses. The surrounding area is seeing a massive amount of ongoing investment including the City‘s “ROC The Riverway“ which brought $15 million in upgrades to the attached garage, rooftop park and pedestrian bridge. 2024 also saw the arrival of Constellation Brands 170,000 sf world headquarters directly across Main Street.
A Cultural Touchstone
Since its construction in 1974, First Federal Plaza has occupied a unique spot in the Rochester community. For an older generation that recalls taking the glass elevator to dine at the revolving “Changing Scenes“ restaurant, or a younger demographic that are simply interested in boarding the flying saucer that landed on the roof, First Federal Plaza‘s distinctive architecture makes it instantly recognizable and presents an unrivaled opportunity to redevelop and relaunch a project with built-in community visibility and marketing potential.
A Cultural Touchstone
Since its construction in 1974, First Federal Plaza has occupied a unique spot in the Rochester community. For an older generation that recalls taking the glass elevator to dine at the revolving “Changing Scenes“ restaurant, or a younger demographic that are simply interested in boarding the flying saucer that landed on the roof, First Federal Plaza‘s distinctive architecture makes it instantly recognizable and presents an unrivaled opportunity to redevelop and relaunch a project with built-in community visibility and marketing potential.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
383,000 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1977
Price
$10,800,000
Price Per SF
$28.20
Tenancy
Multiple
Building Height
21 Stories
Typical Floor Size
18,238 SF
Slab To Slab
15’
Building FAR
6.82
Lot Size
1.29 AC
Opportunity Zone
Yes
Zoning
CBD - Downtown Office District
Parking
800 Spaces (2.09 Spaces per 1,000 SF Leased)
AMENITIES
- Banking
- Conferencing Facility
- Day Care
- Dry Cleaner
- Food Court
- Property Manager on Site
- Security System
1 of 1
Walk Score®
Very Walkable (87)
Transit Score®
Excellent Transit (71)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 261400-121-230-0001-003-000-0000 | Improvements Assessment | $3,252,400 |
| Land Assessment | $2,247,600 | Total Assessment | $5,500,000 |
