A Hamlin Park senior apartment building with 24 subsidized affordable units has been acquired by a local investor for $635,000.
Moshe Rothman's Jefferson Realty Group, which is registered to a Williamsville address, bought the Meadows Apartments at 1527-1537 Jefferson Ave., according to Erie County Clerk records.
The seller was Big Land Properties of Litchfield, N.H., whose ownership includes Kevin W. Brown. Big Land had acquired the apartment complex in April 2008 for $70,000 at a foreclosure auction, after the prior owner defaulted on an FHA-insured mortgage from 1981, according to clerk records.
Neither Rothman nor Brown could be reached for comment.
According to public records, the 12,072-square-foot brick apartment complex, built in 1910 and 1920 on 0.35 acres, features 22 one-bedroom and two two-bedroom apartments in the two-story building, located at the corner of Jefferson and Brunswick Boulevard. The long slender building features an unusual facade on Jefferson, with rounded sloped edges on either side of the front.
Under the agreement with the U.S. Department of Housing and Urban Development from Big Land's 2008 purchase, the units must be maintained as subsidized affordable apartments for elderly individuals and families for at least 20 years, with Section 8 vouchers available.