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Big Deal: 998 Broadway Sold

One of the region’s most recognized addresses has a new owner.  FJD Capital Real Estate LLC purchased 998 Broadway yesterday, the former location of Sattler’s Department Store and most recently a K-Mart.  FJD paid Karnack Development LLC $600,000 for the building and property.

A Sattler’s store on the site was torn down in the late-1980s.  An 80,000 sq.ft. K-Mart was built in 1991.  It closed in 2002.  Aldi purchased a portion of the property and opened a store in 2012.  The empty big box store sits on a 5.28 acre parcel.  Recent proposals to use the structure as an alternative school, ECC training center, and later a church went nowhere.

FJD Capital’s plans for the property are unclear, but Business First reports they may be working with a charter school to take a significant portion of the building.

FJD has the same mailing address in Williamsville as D&S Capital Real Estate.  They are investment groups that includes Kaleida Health transplant surgeon Fadi Dagher, MD.   D&S Capital purchased two Waterfront Village Center office buildings at 50 and 60 Lakefront Boulevard one year ago for $7.2 million.  Dagher also purchased and demolished the former Buffalo Travel Lodge at 1159 Main Street.  A replacement hotel is said to be planned for that site.

Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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