BUFFALO, N.Y. (WBEN)......Two Buffalo apartment complexes - one that towers over the Elmwood Village and the other a South Buffalo landmark - have been sold to separate investment groups.
The deals are the latest in a recent run by investors to acquire apartment complexes within the Buffalo Niagara region.
In the latest deals:
* JECOB LLC - an affiliate of South Buffalo-based E. Elliot & Co. - paid $6,050,000 for the 70 unit Downing Apartments at 70 McKinley Parkway.
The complex had been owned investors Downing Apartments LLC.
Built in 1951, the complex has 23 buildings spread around its McKinley Parkway campus.
* In the Elmwood Village, the 12-story Elmwood Square Apartments sold for $1.7 million with investors 506 Elmwood Avenue LLC buying it from FJF Development LLC.
Constructed in 1974, Elmwood Square is the tallest building within the Elmwood Village.
The 107,000-square-foot building has 138 apartments - a mix of one bedroom and studio units.
Elmwood Square and Downing Apartments sold in separate deals.
Elmwood Square and Downing Apartments sold in separate deals.
