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In the News

Nov 2020

How Is Artificial Intelligence Used in Real Estate?

Artificial intelligence is a complex topic. While some love it and others hate it, there’s no denying that it’s currently transforming the real estate industry. To that end, here’s what investors need to know about artificial intelligence in real estate. Read it over to learn how AI is being used in the industry as well …

Nov 2020

Cattaraugus County lawmakers surprised to see tax cut in 2021 budget

LITTLE VALLEY — Many Cattaraugus County lawmakers were pleasantly surprised to learn that the $248.5 million tentative 2021 county budget contained a tax cut. County Administrator Jack Searles briefed the Republican and Democratic caucuses on the tentative budget earlier this week. The budget, with a full value tax cut of 83 cents, was released to …

Nov 2020

Once Meccas of Retail Therapy, Now Homes to Elder Americans

George and Pat Ritzinger moved five years ago to a community that few would initially consider a retirement mecca: a former shopping center site in Wayzata, Minn. They had spent the previous 15 years in a townhouse development in the Minneapolis-St. Paul area, yet found the atmosphere chilly. “The neighbors were unfriendly,” Mr. Ritzinger, 85, …

Nov 2020

Final Amherst budget slightly lowers steep proposed tax hike

Amherst residents will pay sharply higher property taxes in 2021, but not quite as much as originally proposed by Supervisor Brian J. Kulpa, with the average homeowner saving about $12 under the amended budget. The increase in the tax levy – the amount the town collects in property taxes – from 2020 to 2021 was trimmed slightly …

Nov 2020

Jemal Eyes Hyatt Property

There’s no end in sight for Douglas Jemal’s downtown buying spree. The developer is close to finalizing a deal to buy the $20.7 million mortgage on the Hyatt hotel property at Main and Huron streets. According to The Buffalo News, Jemal is also talking to current-owner Snyder Corp. about completing a deed-in-lieu of foreclosure for …

Nov 2020

Ramapo: Owner selling Novartis campus for $55 million while fighting taxes

Ramapo officials are expressing outrage at the secretive owner of the former Novartis property, who they say is trying to sell the campus for millions more than what it’s worth while simultaneously taking the town to court to lower its property taxes. Suffern Partners LLC entered into a contract to sell the 162-acre campus for $55 million – some $14 …

Nov 2020

Clover Management sells condo association division to Rochester firm

Michael Joseph’s Clover Management has sold its condo and homeowners association division to a Rochester-based firm, divesting itself of a business that no longer fits with its growing focus on senior housing. The sale involves the management of 65 condo, townhome and homeowners associations throughout the Buffalo Niagara region, with 4,700 homes in total. It’s the largest …

Nov 2020

Real estate market stays strong in WNY but that may change if there’s another lockdown

BUFFALO, N.Y. (WBEN) – The realty market locally remains strong, though there is a reasonable concern operations could halt if the region enters into a red zone or if there are statewide shutdowns. “My concern is that people just will hole up and if they hole up, our market will slow down radically,” Peter Hunt, CEO …

Nov 2020

The Glen Theater sold for $375,000

WATKINS GLEN, N.Y. (WETM) – The Glen Theater has been sold for $375,000, according to a real estate listing. The news was first reported by The Odessa File, who said that the “new owner, described by Schuyler County Partnership for Economic Development Executive Director Judy McKinney Cherry as a local person and “new entrepreneur” — who prefers …

Nov 2020

Done Deal: Silo City Site Sold

What’s the going rate for a malt house these days? $2.8 million if a deal completed on Friday sets the bar. Generation Development has finalized the purchase of the American Malting Company Malthouse within the Silo City complex from Rick Smith. The developer is moving forward with plans for an adaptive reuse project that will create commercial …

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