Elmwood Avenue restaurant sold for $515K

June 11, 2013 Updated Jun 11, 2013 at 8:47 AM EDT

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Elmwood Avenue restaurant sold for $515K

June 11, 2013 Updated Jun 11, 2013 at 8:47 AM EDT

Closed for more than one year, the once-popular Cozumel restaurant has been sold to a local investment group headed by developer Nick Sinatra.

According to documents filed in the Erie County Clerk's Office, Sinatra's group, Allentown Group Holdings LLC, paid $515,000 for the 4,000-square-foot Elmwood Avenue restaurant.

Sinatra said plans for the building are still being formulated.

"We have some interested, single-use tenants," he said.

Cozumel closed last year after a long run as one of the most popular restaurants not only in Allentown and the Elmwood Village, but in Buffalo.

The deal was brokered by Jim DiFiglia from CBRE Buffalo and Leon Sciolino from Gurney Becker & Bourne.

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