You have two options:
Either install the required buildToolVersion. (In your case 19.0.1).
You can just press on button Install. Which appear with this error.
Or if you don't want to collect bunch of buildToolVersion. Then use one already existing in your sdk.
In this case you will follow these steps.
(1) First find existing buildToolVersion. Either find in your old project app level build.gradle or you can see that in sdkFolder>build-tools. In my case it is E:\Khemraj\AndroidDND\Sdk\build-tools
(2) Then replace buildToolVersion in app level build.gradle with already installed build-Tool.
(3) You have to reopen that project. (Because just sync does not work in this case for now (Possibly a bug of Android Studio))
Things to be considered
- Offline mode should be disabled in case of installing new build-tool. (File>Setting>Search for offline). Disable Offline mode.
- Make sure to reopen project if you change
buildToolVersion.