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Business

Multifamily real estate investor Bryan Green snapped up another Town of Tonawanda apartment complex Thursday, adding to a cluster he already owns on Sheridan Drive and Englewood Avenue. Green, through Matlis Four, paid $820,000 to acquire 614 Englewood from Frank Ventura, who has owned it since 1985, when it was built. The two-building, two-story complex – with 12 un…

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

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

Developer Karl Frizlen has temporarily pulled a controversial proposal to convert the first-floor gym and kitchen in the former St. Rose of Lima parish school into a banquet facility, giving him time to revise the plan in the face of strenuous community opposition. Frizlen, an architect and real estate developer, had wanted to renovate the 5,000-square-foot space at 500…

Business

Commercial real estate sales are strong in Western New York for industrial properties and multifamily buildings, as a scarcity factor and attractive returns continue to drive demand and rising prices locally. Brokers say that the supply of available manufacturing facilities or warehouses isn’t remotely keeping up with the demand, while the market for Class A office spac…

Business

Just how much will Buffalonians pay for an apartment? As the wave of renovations and building conversions continues, that’s the big question confronting developers and landlords. Almost every week, seemingly, a new project is proposed to either turn an aging facility into new residences or to build anew. Some are small, with only a handful of new apartments, but many…

A veteran insurance industry executive and investor has acquired a Buffalo apartment complex from another local investor for nearly $4 million, helping the buyer deploy some newfound cash from the sale of a business last year. Paul LoVullo, a senior vice president of family-owned LoVullo Associates, paid $3.95 million through Bryant Orange LLC to acquire the Bryant Plac…

Prospectus

Developers and building owners added or announced hundreds of additional apartments in the city’s core last year. They’ve turned aging warehouses, industrial complexes and office buildings into upscale loft apartments with high-end marble or granite finishes and stainless steel appliances alongside historic brick, wood floors and exposed ductwork. [PHOTO GALLERY: Hig…

Featured

The fourth Buffalo Living Tour offered a chance to see inside some of Buffalo's lofts and high-end apartments inside the city's old industrial buildings. If you missed it, here's your chance to check out the buildings featured in the tour. Click on the image to view the photo gallery for the building it represents. Stop 1: Apartments at the Hub, 149 Swan St. Stop 2: T…