Brooklyn buyer pays $1.35M for Buffalo's Towne Gardens plaza

A Buffalo retail plaza has been sold for the third time in three years. BFC Towne Gardens North LLC has purchased the Towne Gardens plaza at 407 and 409 William St. for $1.35 million, buying the properties from MF Blue Valley Apartments LLC. 409 William St. is the main 64,774-square-foot retail building.Occupants include Family Dollar and Discount Pharmacy. 407 William St. is a separate McDonalds building located within the plaza. Prior to 2021, the plaza, McDonalds and the large Towne Gardens apartment complex next door were all owned by Houston-based Towne Gardens LLC. The Federal National Mortgage Association — Fannie Mae — purchased all three properties in a foreclosure sale in August 2021. A few months later the agency sold the three properties to MF Blue Valley Apartments LLC of Dallas for a listed price of $10. MF Blue Valley retains ownership of the apartment complex, having sold the two retail properties. The purchaser is an affiliate of of BFC Partners, a Brooklyn-based development company that specializes in low- and mixed-income apartment projects.

In other real estate news: A mixed-use building at 3172 Main St., Buffalo, has sold for $800,000. Cornertone Heights LLC of Long Island purchased the property from Main and North Rupp LLC of Amherst. The two-story building includes five retail spaces on the first floor with seven apartment units above. Current retail tenants include Just Pizza and Queen City Bookstore. William Heussler represented the seller and Richard Wadsworth represented the buyer; both brokers are with Hanna Commercial real Estate. A Buffalo commercial building has been sold for $718,000. Chiropractor Scott Croce sold the building at 369 Delaware Ave., Buffalo, to Great Wave Realty LLC of Buffalo.

Brooklyn buyer pays $1.35M for Buffalo's Towne Gardens plaza

In other real estate news: A mixed-use building at 3172 Main St., Buffalo, has sold for $800,000. Cornertone Heights LLC of Long Island purchased the property from Main and North Rupp LLC of Amherst. The two-story building includes five retail spaces on the first floor with seven apartment units above. Current retail tenants include Just Pizza and Queen City Bookstore. William Heussler represented the seller and Richard Wadsworth represented the buyer; both brokers are with Hanna Commercial real Estate. A Buffalo commercial building has been sold for $718,000. Chiropractor Scott Croce sold the building at 369 Delaware Ave., Buffalo, to Great Wave Realty LLC of Buffalo.