Opportunity taken: 507 Niagara sold


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Last year, Quincy wrote that about 507 Niagara streets were listed for sale. The old 18-apartment residential building, which has potential capacity, was purchased by a talented developer, Cedarland Development LLC, 507 Niagara Falls. Gergo LLC sold the property for $ 252,500.

From February 2020 post:

According to the listing agent, the structural walls are strong, although there are other significant repairs, including framing and timber repairs. Finally, we are seeing a project that could go from $ 800 million to $ 1 million. The good thing is that this building can make a good contribution to the revitalization of the street if it is taken by a person with a sound vision, perseverance and resources.

Dr. Fadi Daguerre broke through Cedarland Development with the 2013 acquisition of Buffalo Real Estate and Development with the 2014 acquisition of Waterfront Village Village and Buffalo Motor Lodge. The Motor Lodge site now houses the recently completed The Grid. Cedarland also owns the Eckhardt Building and former K-Mart in the Broadway Fillmore area, a historic building on Niagara Street 1920 in Black Rock and plans to build 27 apartments on the northeast corner of Michigan Avenue and Best Street.


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