Two properties in two up and coming neighborhoods have new owners. A three-story building at 483 Main Street and a surface parking lot at 933 Michigan Avenue traded hands yesterday.
483 Main is the former home of Christian Science Reading Room. Rebecca and Pete McCauley’s 483 Main Street LLC purchased the property for $230,000. It is located adjacent to Martin Group’s new headquarters and Carmina Wood Morris’ six-story building at the corner of Main and W. Mohawk Street.
Downtown sources say the new owners are planning to restore the building for a mix of uses.
In what may be the first significant developer investment in the Fruitbelt, Nick Sinatra’s 933 Michigan Group, LLC purchased a surface parking lot at the southeast corner of Michigan Avenue and Carlton Street for $500,000. The 1/3 acre lot across from Roswell Park Cancer Institute had been owned by Greg Stamm and Ted Hawkins.
Sinatra & Company Realty has substantial properties in the Elwmood Village and has been seeking real estate opportunities near the Buffalo Niagara Medical Campus. The firm is developing the Fenton Village project at Main and Ferry and is planning to renovate the Wayne Apartments at 1106-1110 Main Street near Summer Street.
Sinatra’s long-term plans for the Michigan Avenue lot are unknown.