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Buffalo

Is it time for condos in downtown Buffalo? Developers have been rapidly putting up new apartments in the city's core, seeking to fill a demand for urban living, while taking advantage of generous tax credits to finance the projects. Today, there are twice as many apartments in downtown's Central Business District as there were 10 years ago and developers are in the m…

Business

Don't expect the rash of new apartment building to stop anytime soon – unless the music stops. For the past few years, Buffalo developers have been putting up new apartment projects through the city like there's no tomorrow. They're eager to feed both the pent-up demand from the past for new options, as well as the growing demand among young professionals and empty n…

Amherst

A 10-unit apartment building, a medical office building and a commercial office in Amherst have new owners, following a pair of sales totaling more than $2 million late last week. Concrete construction contractor Frederick T. Zelasko of Williamsville, through 4545 Shimerville LLC, paid $1.95 million to buy an upscale multi-tenant medical building on Maple Road, down the…

Amherst

Nick Sinatra, one of the region's newest and fastest-growing developers, is slimming down around the edges of his portfolio as he seeks to refocus his energy on larger projects. The owner of Sinatra & Co. Real Estate has sold off about 10 properties in and around Buffalo in the past two months, including three in Tonawanda, Amherst and Elma. That's a significant num…

Amherst

Michael and William Huntress' Acquest Development has acquired a pair of apartment complexes in Amherst and Depew from an Amherst investor family for $4.7 million. Acquest, through Park Ridge Amherst LLC, paid $3.1 million in late May to buy the Park Ridge Apartments at 265-285 Scamridge Curve from AJF Leasing Inc., led by Judith Ferrentino. The 64-unit multifamily comp…

Business

The Buffalo investment group that recently bought the former Sheehan Residence for Retired Priests from the Catholic Diocese of Buffalo has now acquired a 32-unit apartment building in the Boston Hills of southern Erie County. Mingo Junction Steel Works, a partnership affiliated with Frontier Group of Cos., paid $2.2 million late last month to acquire the Boston Valley …

Buffalo

Douglas Jemal, the Washington-based owner of One Seneca Tower, has agreed to purchase the former Buffalo police headquarters at Franklin and Court streets, which he will then convert into apartments, Mayor Byron W. Brown will announce Friday during his annual State of the City speech. Jemal, owner of Douglas Development Corp., will pay the asking price of $3.05 million …

Buffalo

A Buffalo multifamily real estate developer who has usually focused his attention closer to downtown is eyeing a vacant warehouse in Black Rock for a multimillion-dollar conversion into a new apartment building on Tonawanda Street. Eran Epstein, owner of E Square Capital LLC, is seeking to renovate the former Fedders Manufacturing Works and Fedders Automotive Corp. buil…

Buffalo

A real estate investor who just sold a six-unit Elmwood Village apartment building has now turned around and acquired two multifamily properties from a different group for $930,000 in all – one on the West Side and one near Soldiers Circle. Daniel T. Boland of Buffalo, through Marquee Residential, paid $540,000 to buy 439 W. Ferry St. and another $390,000 for 115 Clarem…

Buffalo

An Amherst investment group has acquired three multi-family properties in Buffalo and Cheektowaga for $2.36 million. Ronald Wai-Kit Leong and Robert Ying-Kit Leong, through their Plutus Development LLC, bought apartment houses at 1617 Kensington Ave. in Cheektowaga and at 224 Parkridge and 94 Berkshire avenues in Buffalo. The sellers were Ferry and Siew Mooi Liparisa of…

Buffalo

A Tennessee investor has acquired a 27-unit apartment building on Grant Street that is located within walking distance of Buffalo State College. Eric J. Winstanley of Nashville, through 1067 Grant Street LLC, paid $1.35 million to buy the three-story tan-brick building, with red trim and window frames, that sits on the corner of Grant and Military Road, across from Aust…

Business

A 40-unit Lackawanna apartment complex has been acquired by a Lockport investor. John A. Khorrami, through JNJ Apartments, paid $1.97 million to buy the eight-building property at 959, 961, 963, 965 and 967-973 Ridge Road from Buffalo-based Tzetzo Companies, through 959 Ridge Road Associates. The five properties are assessed at $785,060. As part of the deal, Khorrami…

Buffalo

The Buffalo Planning Board Monday evening approved a $25 million project to construct a 10-story, mixed-use building on Niagara Street that includes affordable housing alongside market-rate apartments, streetfront retail space and parking. Andrew Crossed's Park Grove Realty of Rochester is working with Buffalo's Roger Trettel to convert a blighted, vacant two-story struct…

Buffalo

Months after demolishing a historic former multifamily home on the site, the owner of a Linwood Avenue property now wants to erect a new three-story wood-frame apartment house in its place, with five new upscale units. Jesse Hawker of East Amherst, who purchased the property out of foreclosure last December, is seeking Buffalo Planning Board approval to construct the 7,…

Buffalo

The seventh annual Buffalo Living Tour this weekend will showcase nine residential properties in Buffalo that have been redeveloped from older uses into new apartments. The free tour of "high-end and unique living spaces" will offer participants an opportunity for a peek inside each of the nine properties, including not only the apartments but also the amenities. The fu…