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Elmwood Village apartments, Tonawanda warehouse change hands

A three-story multifamily property with six apartments in the Elmwood Village has been acquired by a Tonawanda investor.

A limited-liability company called 547 Potomac Holdings, controlled by collections firm founder John Chebat, paid $600,000 to buy the 5,838-square-foot house at 547 Potomac Ave. from Marquee Residential, which is owned by Daniel T. Boland of Buffalo.

Chebat is the founder and president of Account Discovery Systems in Buffalo. He was fined $175,000 by former State Attorney General Eric Schneiderman's office in 2012 for improper collections practices at six firms that he owned.

Built in 1890, the house features one-bedroom apartments with off-street parking, as well as a coin-operated laundry in the basement managed by a third party.

Separately, JM Enterprises of WNY paid $450,000 to buy a 0.52-acre property at 507 McConkey Drive in Tonawanda from Getzville-based 507 McConkey LLC. The buyer is controlled by Jamie K. Olson and Michael R. Haynes, while the seller is owned by Kenneth E. Olson and Duane J. Cady. The property includes 15,156 square feet of warehouse and storage space, dating to 1950.

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