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Buffalo Business First
Hamburg estate sells for $2.05M
A Hamburg estate with views of Lake Erie and the Buffalo skyline has sold for over $2 million.<\p> David and Patricia Burke of Orchard Park recently sold the property at 6046 Old Lake Shore Road for $2.05 million to Patricia Belanger as trustee of the Patricia L. Belanger Living Trust, according to June 6 filings with the Erie County clerk’s office.<\p>
Amherst office building sold for $3.2M
A local developer has purchased an Amherst office building at 8600 Transit Road for $3.2 million.<\p> 8600 Transit LLC, an affiliate of Faizan Haq, purchased the building from Iskalo 8600 Transit LLC, an affiliate of Iskalo Development Corp.<\p>
A key housing metric just fell to its lowest-point ever
The Fannie Mae Home Purchase Sentiment — a gauge of how good buyers feel about the housing market — fell to its lowest number since the agency began measuring it in 2010.<\p> In May, just 14% of consumers surveyed by the agency said it was a good time to buy a home, down from 20% in April. Those who said it was a bad time to buy increased to 86%. <\p>
$50.8M restoration of historic hotel begins again
A $50.8 million redevelopment plan is in the works for the historic Hotel Niagara in downtown Niagara Falls.<\p> Syracuse-based Brine Wells Development LLC has resubmitted an application through an affiliate to the Niagara County Industrial Development Agency to regain incentives, with a goal of starting work this fall to create an upscale, 160-room hotel. The project is on the agenda for June 12. <\p>
New Era Cap lands multi-year Olympic deal
New Era Cap is joining Team USA.<\p> The international sports and lifestyle brand announced a multi-year “official product” agreement with the U.S. Olympic and Paralympic teams. This means the Buffalo-based company will create exclusive sportswear for both teams for Paris 2024, Milan 2026 and Los Angeles 2028. Terms of the deal were not disclosed. <\p>
BOCES seeking up to 200K sq. ft. of new space in Erie
Erie 1 BOCES is seeking a new building to house its exceptional education programs.<\p> District superintendent and CEO Michael Capuana said BOCES is looking for a space between 160,000 and 200,000 square feet in the Cheektowaga, Amherst or another central area to serve 19 school districts.<\p>
Williamsville boutique to close, plus other retail news
After seven years of business, a local clothing boutique is permanently closing. <\p> RuthAnn Boutique, located at 5350 Main St., Williamsville, will close June 29, the business announced on Facebook. The boutique’s online store is no longer available, and the shop has begun its going-out-of-business sale.<\p>
The National Observer: Here's where the money lives
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today,y we've got stories on the rising number of towns in which the median home costs more than $1 million; the interest office tenants are taking in their landlords' financial situation; and plans for a multibillion-dollar supercomputer complex by Elon Musk. But first, here's our inaugural list of the ZIP codes with the greatest concentrations of wealth in the U.S.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
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