The sale of 75 W. Huron St. to New York-based Mercer Street Partners marked the transfer of a prominent historic and educational property in Buffalo’s downtown core, reinforcing investor confidence in adaptive‑reuse assets tied to long‑term institutional tenants.
Originally constructed in the late 19th century as a horse stable and later converted into parking, the building was fully redeveloped in 2019 as the home of the Buffalo School of Culinary Arts & Hospitality Management, a public high school offering academic and career‑focused training.
In September 2025, Mercer Street, a national investment firm, acquired the property for $32.3 million. The school remains in place under a long‑term lease, ensuring uninterrupted operations and long‑term stability for its programs. The transaction reflected confidence not only in the building’s repositioned use but also in Buffalo’s expanding downtown educational presence.
The sale carries broader economic and community benefits for the region. Keeping the school anchored downtown supports workforce pipelines for local restaurants, hotels and tourism‑related employers, sectors that are central to Buffalo’s economy. The infusion of private capital further reinforces downtown revitalization efforts while supporting surrounding retail, transit‑oriented activity and long‑term urban investment.
By securing new ownership for a modernized institutional asset and contributing to Buffalo’s broader downtown revitalization efforts, the building sale was selected as the sale/acquisition of the year in Buffalo as part of the 2026 CoStar Impact Awards, selected by a panel of real estate professionals familiar with the local market.
About the project: The 101,712‑square‑foot property at 75 W. Huron St. comprises seven stories with a typical floor plate of 14,530 square feet, according to CoStar data. Constructed with a steel structure, the building was redeveloped in 2019 and sold for $32.3 million in September 2025, with the Buffalo School of Culinary Arts & Hospitality Management remaining as the long‑term tenant.
What the judges said: The judges pointed to the transaction as a strong signal of outside investment and confidence in Buffalo’s future. “It's an indication of outside investors believing in the strength and future growth of Buffalo,” said Margaret Tuerk, director of leasing at Iskalo Development Corp. The acquisition also stood out for its downtown location and community impact. “The acquisition of centrally located historic properties is crucial to the creation of thriving, walkable neighborhoods and districts that improve the real estate market within those areas,” said Brandye Merriweather, president of downtown development at the Buffalo Urban Development Corp. Merriweather added that maintaining access to educational programs near public transportation delivers long‑term benefits for both the local economy and the broader community.
The judges also highlighted the scale and uniqueness of the transaction. “75 West Huron is the largest in terms of purchase price and seems to stand out the most in terms of uniqueness,” said Matthew Roland, assistant dean of the real estate development program at the University at Buffalo School of Architecture and Planning. Roland noted that the acquisition further solidifies investment in Buffalo’s central business district.
They made it happen: The sale of the building was arranged by David Carswell, assistant vice president of development and finance at Lee & Associates, along with his colleagues Benjamin Topper, executive managing director, and Sean Slattery, director.