Stegner, Warren, and Greene broker sale of 11-property portfolio along Humboldt Parkway

CBRE Upstate NY, an affiliate of CBRE, today announced the $3,200,000 sale of an 11-property portfolio along Buffalo’s Humboldt Parkway to Dofi Properties, a Buffalo-based development firm led by CEO Justin Fineberg and Dr. Marc Fineberg.

The portfolio consists of homes located at 2 Agassiz Circle; 73, 77, 81, 85, 91, 95, 103, 107, 117, and 121 Humboldt Parkway which were previously home to Medaille University’s administrative offices. Dofi Properties acquisition coincides with a $7 million project to convert the properties back to residential use with a total of 26 high-quality apartment units.

“These homes have a rich history, and you can see the craftsmanship that once defined them,” said Justin Fineberg, CEO of Dofi Properties, “We’re excited to transform these underutilized office spaces back to residential use with thoughtfully designed apartments that help meet Buffalo’s growing need for quality housing.”

The redevelopment project is scheduled to begin immediately, with Silvestri Architects PC serving as the project architect and Hayes Construction as the general contractor. The redevelopment will modernize the interiors while preserving the original architectural features, offering residents a unique blend of historic charm and modern comfort just steps from Delaware Park.

“Dofi’s interest and vision presented a best-case scenario for this collection of properties,” said Shana Stegner, managing director of CBRE Upstate NY’s Buffalo office. “A conversion away from office made the most sense and it will be great to see these properties turn into residences once again.”

CBRE Upstate NY’s brokerage team of Shana Stegner, Julie Greene, and Sarah Cashimere-Warren represented Trocaire College in the sale of the portfolio.

About CBRE Upstate NY
CBRE Upstate NY, an affiliate office of CBRE, offers a full range of commercial real estate advisory and transaction services across New York state with offices in Buffalo, Rochester, Syracuse, and Albany. CBRE Upstate NY specializes in landlord/owner representation, tenant/buyer representation, investment sales, consulting, and research services. A number of the firm’s brokerage team are active members in highly regarded professional designations such as the Society of Industrial and Office Realtors (SIOR) and Certified Commercial Investment Members (CCIM). CBRE Upstate NY team members also hold memberships in industry organizations such as National Association of Industrial and Office Properties (NAIOP), International Council of Shopping Centers (ICSC), Building Owners and Managers Association (BOMA), Urban Land Institute ULI), Commercial Real Estate Women Network (CREW Network), and the National Association of Corporate Real Estate Executives, and the Industrial Development Research Council. Learn more at www.cbre.com/upstateny.