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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.


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 …

Buffalo

A Washington state real estate investor has sold a pair of franchised 7-Eleven convenience store properties in the Town of Tonawanda and Buffalo to a Los Angeles couple. Alexander C. Osborn of Fircrest, Wash., sold the stores at 737 Kenmore Ave. in Tonawanda and 975 Abbott Road in Buffalo to the David Hakmyong Rhee and Patricia S. Rhee Revocable 2002 Trust, for a total …

Hunt Real Estate Corp., the largest real estate brokerage based in Buffalo, is pushing into New England in a major way by acquiring another of the largest agencies in the national ERA brokerage network. Hunt, which itself is the No. 2 ERA affiliate, said Wednesday that it had agreed to acquire ERA Key Realty Services of Northbridge, Mass., which is also ranked among the…

Business

Two local real estate investors traded a 40-unit apartment complex on Grand Island last month, in a legal transaction that effectively hid the purchase price of nearly $3 million from public view. Timothy J. Waterman of Getzville acquired the Islebrook Apartments at 1301 Ransom Road from Donald G. Hoke. The purchase price was recorded as just $1 in the deal between I…

Buffalo

The effort to redevelop the former Women & Children's Hospital of Buffalo campus in the Elmwood Village will kick off next week, as the developers behind the $100 million Elmwood Crossing project initiate the first phase of formal public review. The Buffalo Planning Board on Monday will get its first look at a proposed six-story, mixed-use building at the northeast …

Business

Essex Homes has completed the second phase of development at its Knoche Farms Estates subdivision in Orchard Park. Located off Milestrip Road near Southwestern Boulevard, the single-family home community will have a total of 97 lots when completed, with a pond and woodlands. It features large home sites – some nearly 1 acre in size – with ranch, two-story and first-floo…

Buffalo

The owners of Colter Bay Restaurant in Allentown are seeking to replace five sets of storefront windows along Delaware Avenue and Allen Street to make them functional and energy efficient. Derek and Jessica Eastwood, whose Rock Wobbly LLC operates the restaurant at 561 Delaware, obtained a $49,000 Buffalo Main Street Initiative grant from the Allentown Association as pa…

Buffalo

The owner of a deteriorating building on Linwood Avenue in Buffalo wants to demolish the structure that has been deemed unsafe so he can erect a new three-story apartment building in its place with five to seven luxury units. Jesse Hawker of East Amherst is seeking permission from the Buffalo Preservation Board to take down the vacant multistory building at 295 Linwood,…

Business

The rush to prepay estimated property taxes at the end of last year led to a flood of cash for municipalities, but also some headaches. Staff in Amherst and Clarence had to issue hundreds of refunds weeks later after precise tax debts were calculated. Local towns and villages took in millions of dollars in advance payments in late December, as several thousand taxpay…

Business

Hunt Real Estate Corp. has acquired a real estate management company so it can start its own division managing properties for clients. The Buffalo-based real estate brokerage didn't say how much it paid to buy Engineered Facility Solutions, which will be combined with Hunt's existing portfolio of properties owned by the Hunt family to form Hunt Property Solutions LLC. …