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.