NEW YORK–One of downtown Buffalo’s most recognizable historic buildings is changing hands in one of the city’s biggest real estate deals of the year.
Manhattan-based Mercer Street Partners is set to close a $32.4 million purchase of the New Buffalo School of Culinary Arts & Hospitality Management building on West Huron Street on Sept. 25.
The property, a six-story, 100,000-square-foot landmark, is being sold by a local investment group led by businessman and civic leader James McGuire along with the estate of the late Mark Croce.
A School That Stays Put
Despite the change in ownership, the Buffalo Public School (PS 355) won’t be going anywhere. The culinary and hospitality high school will remain as the sole tenant for at least another decade under its long-term lease—something McGuire said was one of the deal’s strongest selling points.
“We had it listed and they approached us,” McGuire explained.
Some of the proceeds from the sale will be funneled back into the city. McGuire Development is planning to build a new commissary for the Buffalo Public Schools at an East Delavan Avenue site, with construction kicking off this fall.
From Horse Palace to High School
The building has had a long, colorful life. Built in 1887, it first opened as the C.W. Miller Livery, once described as an “equine palace.” Later, it served as an indoor parking garage and a Hertz car rental location before falling into disrepair.
When McGuire and Croce’s group purchased the property in 2017, it was in rough shape. They spent two years restoring the structure, transforming it into a modern home for the culinary and hospitality-focused high school. It now complements the Emerson culinary high school on West Chippewa Street.
Recognized for its architectural and historical significance, the former livery is also listed on the National Register of Historic Places.
A Landmark With New Life
For Mercer Street Partners, the purchase not only secures a prime downtown asset but also brings fresh investment energy to Buffalo’s historic core. And for McGuire, the sale ensures the building will keep its place in the city’s educational and cultural landscape—while also funding new projects for the future.
Author Profile
-
The writer is a real estate journalist specializing in all types of New York City properties, including luxury residences, commercial spaces, and homes.
He also writes humorous articles about real estate, investors, and realtors.
Latest Posts
BlogDecember 15, 2025Houston Real Estate 2026: Growth and Hotspots Ahead
BlogDecember 3, 2025Why Houston Real Estate Investing Is Surging in 2026
BlogNovember 29, 2025Real Estate Market Insights: Why Every Call Matters
PerspectiveNovember 20, 2025Things to do in New York without real estate agents