929 Sycamore Ave - Redevelopment Opportunity

Investment Overview

The former Transfiguration Church, a striking late 19th-century Gothic Revival structure, offers investors a rare high-risk, high-reward redevelopment opportunity. While the building has suffered significant deterioration, including roof collapse and structural damage, architectural and engineering-stamped plans are already in place to transform the site into a residential development concept featuring approximately 14 apartments while preserving the historic exterior shell. The redevelopment narrative calls for an estimated $6.3 million project budget, with projected monthly gross rents of $2,800 per unit and annualized income in excess of $700,000, providing the potential for strong long-term returns once stabilized. Rising assessed valuations, favorable preservation economics, and the potential eligibility for historic tax credits strengthen the investment case. For the right investor, this property represents a landmark adaptive reuse play—one that pairs visionary upside with substantial redevelopment challenges, offering a truly unique addition to Buffalo’s ongoing urban revitalization. Due to the sellers involvement on this project for the last five years he would prefer to stay involved in the development after closing.

Investment Highlights

• 16,983+/- SF
• Former Transfiguration Church
• Redevelopment Opportunity