Buffalo- The owner of Rick’s Tally-Ho has struck an unusual $7.5 million package deal to sell his North Buffalo mansion, plus his gentlemen’s clubs in Cheektowaga, Rochester and Tampa.
Richard A. Snowden confirmed Tuesday he is selling the group of properties to an unidentified Rochester investment group. The deal includes more than $3 million for his home, the historic Miller Mansion, at 175 Nottingham Terrace.
It would mark the highest sale price for a single-family home in Buffalo history. It would also set a record for residential sales for Western New York, where only eight homes have sold for $1 million or more since 1999, according to records kept by the Buffalo Niagara Association of Realtors.
“We got more than we were asking for the house, which I think reflects the significant amount of time and money we’ve put into the property to bring it back to its majestic glory,” Snowden said.
Tom Roaldi, a real estate agent from Coldwell Banker Chubb who brokered the deal, said the whopping sale price should open more eyes to what’s available in the Buffalo residential property market.
“This is great news for this area and shows we have unique homes that can command very strong prices,” Roaldi said.
Snowden acquired the 1933 limestone mansion, which served as a school building from the mid-1960s through 2001, for $995,000 in 2004. The mansion, which was the venue for the Junior League of Buffalo’s 2003 Decorator Show House, saw significant interior and exterior investments by Snowden.
One of the most striking changes is a grand fountain and elaborate landscaping, which was added to the front of the property in 2005.
“It’s the most beautiful home in Buffalo and it will continue to be a residence,” Snowden said when asked about the investment group’s decision to buy both his business and personal property assets.
“They were interested in the clubs and there was another potential buyer for the house. They made the decision to buy the entire package,” he said.
The sale is expected to be completed in the next 45 to 60 days.
Snowden put the 18,000-square-foot residence on the market in mid-July for $2.95 million. At the time, he said he planned to return to Las Vegas due to New York State’s high personal, property and business taxes. Before that, he had contemplated a political career, sizing up races for Congress, the State Legislature and Erie County executive.
The strip club entrepreneur now says he’s getting out of the adult entertainment business altogether, and is looking to buy property in East Aurora, where he can raise horses and “enjoy family life” with his wife, Danielle, and five young children.
“We’ve made many wonderful friends in our time here, and my wife would really like to stay here, so that seems to be where we’re headed,” Snowden said.
He said he’s contemplating a new career in fine arts and antiques, as well as business consulting and public relations. But first he plans to take time off from the work world.
“I’ve been in the entertainment business for 27 years and now I’m in the family mode,” Snowden said.
Snowden, a Hornell native who established himself in the adult entertainment business in Las Vegas, came to Buffalo in 2001 when he purchased what is now Rick’s Tally-Ho, 5111 Genesee St., for $610,000. After selling off his Nevada interests, he added similar clubs in Rochester and Tampa to his portfolio. rea with his family.