Share, , , Google Plus, Reddit, Pinterest, StumbleUpon


Posted in:

Done Deal: New Owner for AM&A’s

The former AM&A’s Department Store has traded hands.  377 Main Realty Inc. paid $2 million for the property today.  Landco H & L Inc. was the seller.  Both buyer and seller are registered to Flushing, New York addresses, the seller on Union Street and the buyer on 171st Street.  A source close to the project says the transaction brings additional equity into the effort.

Landco’s $70 million reuse plan calls for ground floor retail and restaurant space, 40,000 sq.ft. of banquet facilities, and a 340-room Wyndham Hotel.  Work on the project has been sporadic but after a lengthy asbestos removal effort, construction was said to be on track only to stall again.  Last fall, Landco was said to be close to securing a tax credit investor and lender to allow the project to proceed and hired Savarino Cos. to oversee the work.

Landco H&L Inc. purchased the property in November 2014 for $2.775 million.  The building has been vacant since 1999.

Written by Buffalo Rising

Buffalo Rising

Sometimes the authors at Buffalo Rising work on collaborative efforts in order to cover various events and stories. These posts can not be attributed to one single author, as it is a combined effort. Often times a formation of a post gets started by one writer and passed along to one or more writers before completion. At times there are author attributions at the end of one of these posts. Other times, “Buffalo Rising” is simply offered up as the creator of the article. In either case, the writing is original to Buffalo Rising.

View All Articles by Buffalo Rising
Hide Comments
Show Comments