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Jonathan D. Epstein

Jonathan Epstein is a business reporter at The Buffalo News, where he covers commercial and residential real estate and development. He has worked at The News since 2004.


Business

A new La Quinta budget hotel will be opening in Lackawanna next month, after two new hotel operators bought a former Best Western from the previous owner 11 years after it was built. The Inn at the Outer Harbor, previously called the Best Western Plus Inn of Lackawanna, is undergoing a renovation that will convert the three-story facility at 2500 Hamburg Turnpike into t…

Business

A local Tim Hortons franchise operator has acquired a retail building in Tonawanda that houses The Vitamin Shoppe from a Miami-based commercial real estate developer and manager. Amit Ahuja's Ahuja Development paid $1.9 million to buy the single-tenant property at 1250 Niagara Falls Blvd., on the border with Amherst, from 1250 Niagara Falls Boulevard Tonawanda. Construc…

Business

An Ontario investment group has acquired 46 Buffalo duplexes, triples and other residential properties from a Buffalo firm with Canadian origins, gaining over 73 apartments located predominantly in the Black Rock and Riverside neighborhoods. The buyer, LHBP Properties of Lion's Head, Ont., paid $3.35 million to Hopeful Holdings 2 LP, located on Amherst Street in Buffalo…

Business

Here's a prescription for success. A Southern California real estate investment firm that's been active in the Buffalo market has acquired a Walgreens store location in Orchard Park for $7.1 million. Realty Income Corp. of San Diego bought the 1.16-acre corner lot at 3008 Union Road from Home-Like Apartments, a 56-year-old West Springfield, Mass.-based operator of ap…

Buffalo

A high-powered consultant for one of the nation's biggest firms is moving up in Buffalo's real estate world, trading up from a six-bedroom Victorian house on the West Side to a $1.2 million Tudor Revival mansion in the Elmwood Village. Ryan S. Osborne, a managing director in the analytics and cognitive life sciences practice at Deloitte Consulting, bought a nine-bedroom…

Buffalo

Critics of a city property tax break program turned their fire toward Benderson Development Co. Friday, demanding the Florida-based real estate company give up $5.9 million in subsidies it received for its One Canalside project in downtown Buffalo. Assemblyman Sean M. Ryan, D-Buffalo, accused the developer of abusing the state-authorized program, designed to support mix…

Buffalo

The developer who purchased the Clement Mansion property from the American Red Cross' Western New York chapter sold the agency's former Blood Services building to a family advocacy organization, which will use it to help children who have suffered from sexual and severe physical abuse. The sale to BestSelf Behavioral Health completes a transformation of the historic Del…

Buffalo

Fresh off another successful summer on the city's waterfront, the owners of Buffalo RiverWorks are expanding their property on both sides of the popular entertainment venue, buying up a pair of grain elevators on Ganson Street to add to their holdings. The partners, led by Earl Ketry and Doug Swift, paid $2.15 million in two separate transactions this week to purchase t…

Business

Just over a year after its launch, the Western New York Impact Investment Fund has purchased its third stake in a local company. The fund is investing $750,000 in a cellulose insulation company that had moved from Massachusetts to Buffalo after winning a $500,000 award in the 43North competition. CleanFiber Buffalo LLC – formerly UltraCell – uses recycled corrugated …

Buffalo

Molly Profic nailed how everyone in the room was feeling after she delivered the monthly financial report for the Buffalo Urban Development Corp. this week. Profic, the chief financial officer of both the BUDC and Erie County Industrial Development Agency, laid out in detail the balance sheet, income statement and budget comparison for the BUDC board, for both the month…

Business

The Niagara Frontier Transportation Authority Thursday selected a Rochester-based construction management firm to oversee a $52.6 million expansion project at Buffalo Niagara International Airport. The Pike Company Inc., whose Buffalo office is led by Tim Vaeth, will manage the project that includes the addition of two buildings with 54,000 square feet of space, as well…

Wendel, the Buffalo-based design, construction and engineering firm, has acquired a specialized firm in Atlanta to boost its expertise and geographic reach. The company did not say how much it paid to acquire the Architecture Group, which focuses on institutional architecture in Atlanta and the southeastern United States for clients such as the Metropolitan Atlanta Rapi…

Buffalo

The developer behind the Crescendo apartment building on Niagara Street is now seeking tax breaks for a second project just across the street. Natale Development is requesting a package of sales and mortgage recording tax breaks from the Erie County Industrial Development Agency, to support its $5.6 million conversion of the former Aldrich & Ray Manufacturing Co. bu…

Buffalo

The Buffalo Urban Development Corp. on Tuesday approved two additional contracts for the second phase of the Northland Corridor build-out project for Buffalo Manufacturing Works, while also extending its own lease for shared space with the Erie County Industrial Development Agency. BUDC's board backed the hiring of C.J. Brown Energy for commissioning services to ensure …

Buffalo

A local developer working with an unidentified warehousing and distribution venture has signed a letter of intent with the Buffalo Urban Development Corp. to purchase 20 acres of land in the Buffalo Lakeside Commerce Park in South Buffalo. BUDC President Peter Cammarata would not identify either the developer or the group, which he said is being put together to form the…