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Month: August 2020

Aug 2020

Frank’s Mr. Plumber buys Tonawanda warehouse to triple its space

Frank DiMaria has fixed a lot of leaks over the 35 years that his Mr. Plumber has been in business – and he’s hoping to fix a whole lot more. DiMaria’s growing business is nearly tripling its space in Tonawanda as it seeks to accommodate not only rising demand for plumbing and waterproofing services, but …

Aug 2020

AM&A’s redevelopment on hold as lawsuit asks: Who is the owner?

Just who owns the old AM&A’s department store on Main Street? That is the question at the heart of a legal battle among three downstate investors that has left the future of the landmark downtown complex in limbo and put its ambitious redevelopment on hold. Two different people claim ownership and leadership of Landco H&L, …

Aug 2020

Termini converts hotel rooms at Foundry, Lafayette into apartments

The Foundry Suites hotel in North Buffalo is no more. Developer Rocco Termini said he has converted all 14 hotel rooms at his Foundry project on Elmwood Avenue into apartments, anticipating that the devastated hospitality industry is in for a long haul before it recovers. “We don’t think hotels are coming back for a long …

Aug 2020

Apartments for rent: Americans don’t want yearlong leases amid the pandemic, neither do landlords

The coronavirus pandemic has pushed Deborah Pusatere to convert all her tenants’ one-year leases into rolling month-to-month agreements. The landlord in upstate New York oversees 80 apartment units. When a tenant’s lease is set to expire, she offers them a more flexible contract to move out at any time with a 30-day notice. “A lot of people are still losing their jobs,” Pusatere says. …

Aug 2020

Renovating for a New Normal

Kristen Meehan’s home office is often a brown Adirondack chair on her front lawn, with hedges that make a halfway decent Zoom backdrop. “Every time I’m on a video call, people are like, ‘Are you in a forest?’” said Ms. Meehan, 31, who lives not in the woods, but in a four-bedroom house in Montclair, …

Aug 2020

Existing-Home Sales Continue Record Pace, Soar 24.7% in July

WASHINGTON (August 21, 2020) – Existing-home sales continued on a strong, upward trajectory in July, marking two consecutive months of significant sales gains, according to the National Association of Realtors®. Each of the four major regions attained double-digit, month-over-month increases, while the Northeast was the only region to show a year-over-year decline. Total existing-home sales …

Aug 2020

Industrial Real Estate Is The Investment World’s New Darling

How did an asset class go from the ugly duckling of the investment world to the darling in such a short period of time? By now, almost all consumers are intimately familiar with online shopping. Online shopping or e-commerce has been the driver for the rapid acceleration of warehouse demand across the nation, resulting in …

Aug 2020

Sale of Whitney estate could change heart of Adirondacks

LONG LAKE – The sale of the Whitney property in the heart of the Adirondacks marks the end of an era. It’s the one of the few remaining Gilded Age great camps, with palatial rustic mansions given names like the Sagamore, Uncas and Pine Knot. They were built at the end of the 19th century …

Aug 2020

First look at new apartments in former Addis store in downtown Syracuse (photos)

Syracuse, N.Y. — The long-vacant former Addis Department Store in downtown Syracuse is coming back to life as a place for upscale living. Developers Tim Lynn and Joe Gehm and BBL Construction Services have nearly finished turning the top three floors of the five-story Addis building into 18 apartments (15 one-bedroom and three two-bedroom units). …

Aug 2020

‘The housing market is on a sugar high’: Home sales are soaring, but is it a good time to buy? Here’s what the experts say

Americans are rushing to buy homes right now. But should you be one of them? Sales of previously-owned homes in the U.S. rose 24.7% between June and July to a seasonally-adjusted annual rate of 5.86 million, the National Association of Realtors reported Friday. Not only did the percentage increase represent a record, but the sales …

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