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Jonathan D. Epstein

Jonathan Epstein is a business reporter at The Buffalo News, where he covers real estate and development. He formerly covered banking and insurance, and has worked at The Buffalo News since January 2004. He is a graduate of the University of Rochester and Columbia University Graduate School of Journalism, and is an upstate New York native.


Business

Home prices set another record high in the Buffalo Niagara region during January, as a dearth of available homes continues to drive up home values even as fewer homes change hands. As a result, buyers continue to compete heavily for the best houses, and pay up when they find them. The average sales price soared 16 percent to $165,021 in January, while the median price –…

Amherst

Marrano Marc Equity Corp. has kicked off construction on its new $14 million Windstone townhouse project in Amherst, just days after receiving final state approval to begin marketing and sales. The West Seneca-based high-end homebuilder plans to construct 40 new luxury homes in the community located between Sheridan Drive and Main Street, directly connected to Marrano's…

Buffalo

An East Side church is seeking Common Council approval for construction of a two-story addition to its existing structure. The two-phase project, estimated to cost $2.2 million, will allow the First Calvary Missionary Baptist Church at 467 William St. to provide religious services, community outreach, a soup kitchen, a computer lab and youth mentoring services, accordin…

Buffalo

The Buffalo Common Council will review a proposed new restaurant in Allentown, after the city Planning Board Monday night gave its backing to the establishment called A Street Meatball Market. Dennis Glenn and Robert Burns, of A Street Industries in Tonawanda, want to open the 14-person sit-down restaurant and tavern, offering beer and wine sales, at 23 Allen St., conve…

Buffalo

A proposed conversion of a historic West Side firehouse into a new brewery and restaurant will have to wait for at least two more weeks, after Buffalo Planning Board members balked Monday at making a recommendation to the Common Council before a final community meeting this week. A group of six young investors known as Project X Holdings wants to renovate the old Jersey…

Buffalo

Former judge Anthony P. LoRusso is taking a second stab at affordable housing on Buffalo's West Side – with a new proposal for a 39-unit apartment building around the corner from his first project. LoRusso's APL Property Group seeks city approval to construct a four-story building at 129 West Ave., with one-bedroom apartments priced at what LoRusso termed an "affordable…

Buffalo

The Buffalo Planning Board Monday agreed to start environmental reviews for the first proposed project at the former Women & Children's Hospital site – triggering the start of what is expected to be a major transformation of nearly eight acres. Sinatra & Company Real Estate and Ellicott Development Co. want to construct a six-story building at 451 Elmwood Ave., …

Business

Uniland Development Corp., one of the region's biggest commercial real estate firms, is negotiating with the owner of the Eastern Hills Mall about taking an investment stake in the Clarence retail center as part of a potential redevelopment. L. Robert Lieb, chairman and CEO of Mountain Development Corp., confirmed that his company is talking to the Amherst-based develop…

Business

An 88-room motel near the Buffalo Niagara International Airport is being auctioned later this month to head off a foreclosure sale. Cash Realty & Auctions will conduct the public sale of the Buffalo Airport Inn, located at 50 Freeman Road in Lancaster. The auction will be held Friday, Feb. 16 at 10 a.m., in room 138 of the motel. The 30,435-square-foot motel, whi…

Buffalo

A Delaware Avenue strip center with a laundromat, cleaners and daycare center has been acquired for a little more than $1 million by a Tonawanda investor group. Padda Dabadi LLC, which is registered to the home address of Jatinder S. Padda and Joginder Singh, paid $1.025 million to buy the 12,636-square-foot retail plaza at 2420-2424 Delaware. The seller was Acea M. Mos…

Buffalo

Burgers aren't the only things being flipped at a Burger King on Broadway. So is the restaurant itself. Within a three-week period last month, Syracuse-based Carrols Restaurant Group bought and sold a Burger King location at 1066 Broadway, making a profit of $357,375 in the process, according to Erie County Clerk records. That's more than 45,000 Whopper meals, with f…

Buffalo

Ellicott Development Co. has completed its purchase of the historic Cooperage property near Ohio Street, setting the stage for its $7 million redevelopment project to begin. The developer, owned by Carl and William Paladino, paid $526,100 through Cooperage LLC to Clinton Brown's Newark Niagara to buy the vacant and derelict complex at 55-59 Chicago St. Plans now call…

Business

Three apartment complexes in Tonawanda, Kenmore and West Seneca have new owners after the completion of sales totaling nearly $3.9 million. Gregory A. Suffoletto's Standard Property Management paid $1.71 million through Parker Heights LLC to acquire the Parker Heights Apartments, located at 2652-2684 Sheridan Drive in the Town of Tonawanda, according to Erie County Cler…

Business

Amazon.com's lease for a Lancaster warehouse last year was the largest such contract handled by brokers in Western New York last year. The Seattle-based online retailer signed a long-term lease for the 500,000-square-foot facility at 4201 Walden Ave., valued at $20.34 million. The company maintains a "sortation" center at that location, its second such fulfillment opera…

Business

A former bagel store in the Town of Tonawanda that is now a Citizens Bank branch has been acquired by a New Jersey real estate investor. Sudhir Pakalpati of Skillman, N.J., acting through Citizen Delaware Avenue LLC, paid $1.6 million late last month to buy the 4,500-square-foot building at 3494 Delaware Ave., along with a 0.145-acre parking lot next door at 21 Hampton …