26-28 E Main St | Rochester, NY 14614
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26-28 E Main St
Rochester, NY 14614
First Federal Plaza · Office Property For Sale
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
Property Type
Office
Building Size
465,476 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1977
Price
$10,800,000
Price Per SF
$23
Percent Leased
78%
Tenancy
Multiple
Building Height
21 Stories
Typical Floor Size
22,166 SF
Slab To Slab
15’
Building FAR
8.28
Lot Size
1.29 AC
Opportunity Zone
Yes
Zoning
CBD - Downtown Office District
Parking
800 Spaces (1.72 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Conferencing Facility
- Day Care
- Dry Cleaner
- Food Court
- Property Manager on Site
- Security System
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 |
PROPERTY TAXES
Parcel Number
261400-121-230-0001-003-000-0000
Land Assessment
$2,247,600
Improvements Assessment
$3,252,400
Total Assessment
$5,500,000
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