Construction for the Buffalo Theater began January 15, 1925. The theater opened the following January, under Vincent McFaul's general management.
After theater founder Michael Shea died in 1934, theater operation fell to Buffalo Theaters, Inc., with Vincent McFaul as president. Buffalo Theater's, Inc. operated the theater until 1948 when Loew's Corporation acquired rights to the theater.
During the mid-1960s, Hepco Reality purchased the theater and later leased it back to Loew's. In 1974, the theater was foreclosed on for back taxes, and in 1975, the theater officially closed.
In 1980, Shea's O'Connell Preservation Guild took over management of the Buffalo Theater and restoration procedures. These procedures continued through the 1990s to 2005, when the theater officially reopened with the addition of the adjacent Smith Theater.