Kenmore apartments change owners

October 15, 2013 Updated Oct 15, 2013 at 2:01 PM EDT

By James Fink, Buffalo Business First

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Kenmore apartments change owners

October 15, 2013 Updated Oct 15, 2013 at 2:01 PM EDT

An investment group has acquired a Kenmore multi-unit property, the second such sale in the past week in the village.

The local group, TNGLG LLC, has acquired the 20-unit apartment complex, located at 242 Delaware Road, buying it from local businessman Joseph Curcio. The sale price was $835,000.

The apartments, located at the corner of Delaware and Delwood roads, were constructed in 1927. Among the amenities: rear balconies, 11 garages and 15 off-street parking spaces.

All 20 units are leased.

The two-story, 13,740-square-foot building went on the market earlier this year with a $900,000 asking price.

Its location, coupled with a fully-leased building, attracted several potential buyers, said broker Jay Newman from Hastings Cohn Real Estate, who handled the deal.

The deal comes after Ellicott Development, last week, paid $725,000 for the 1 Delaware Road Building, with plans to renovate that structure into a residential-anchored project.

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