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In the News

Sep 2020

Done Deal: 130 Pearl Sold

An historic building in the Joseph Ellicott Historic District has a new owner. Stewart Title Insurance Company has sold the three-story building located at 130 Pearl Street for $660,000. The buyer was 130 Pearl LLC, registered to architectural and engineering firm Trautman Associates’ address at 37 Franklin Street.  CBRE Buffalo was the listing agent. The …

Sep 2020

Eat, drink and be merry: Jemal’s $120 million makeover transforms Seneca One

Buffalo’s tallest building is getting a whole new vibe. From a new lobby bar to an extensive food court, from a clubhouse to restaurants, the new Seneca One tower will have no shortage of places to eat, drink and be merry – or even to get married. That’s an unexpected – but carefully planned – result of …

Sep 2020

Three Burger King restaurants get new property owners

Here’s a whopper of a deal. A Dallas-based real estate investment trust has completed its purchase of three local Burger King restaurants as part of a larger, nationwide acquisition. The deals affect the properties, not the businesses that lease them. Spirit Realty Capital bought 123 properties from Service Properties Trust in Newton, Mass., paying a …

Sep 2020

Legislation would give property tax incentive for landlords and tenants to negotiate new leases

NEW YORK — Vacant storefronts and empty shops are becoming a common sight on New York City streets. A business in Park Slope isn’t going to go quietly. Daniella Stromberg is the owner of D’mai Urban Spa on 5th Avenue in Park Slope. “I tried to renegotiate and crickets. Nothing. My ask is a rent …

Sep 2020

Lord & Taylor’s final sale: Who will buy all that real estate?

Lord & Taylor will be liquidating all 38 of its stores and going out of business. The company, which was bought last year by the clothing rental service Le Tote, recently filed for Chapter 11 bankruptcy protection and hasn’t been able to find a buyer. This is probably going to happen a lot as more …

Sep 2020

What Will The Pandemic’s Impact Be On The Real Estate Market?

The pandemic has already caused a mini-exodus out of New York City, and with lower taxes, lower interest rates, and — for the wealthiest among us — higher earnings thanks to stock market gains and some helpful bailouts, the housing market is roaring outside of urban America. What will be the impact on real estate …

Sep 2020

Cornell University v. Board of Assessment Review/Town of Seneca

 Appeal from a judgment and order (one paper) of the Supreme Court, Ontario County (John J. Ark, J.), entered January 28, 2019 in proceedings pursuant to RPTL article 7. The judgment and order granted the petitions by, inter alia, directing the removal of a tax parcel from the tax rolls of the Town of Seneca.  …

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 …

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