December 19 – LOCKPORT – The Eastern Niagara Hospital property has been sold to 521 East Ave LLC, a subsidiary of Kids First in Monsey, NY.
The sale closed on October 30, 2024 and was finalized on November 21 through the Niagara County Clerk’s Office. The purchase price has not been disclosed.
The hospital closed in June 2023 due to bankruptcy and the property was first made available through Tranzon Auction Properties in April of this year and again in June after the first round of bidding failed to satisfy 521 East’s court-appointed receiver. Avenue, Triglid IVL commercial property.
According to Mike Foster, a representative of Tranzon’s local chapter, the property was not sold at auction, although he noted that Kids First was a “solid buyer” and that its CEO and founder, Shraga Gold, had “been around for a while” . for a long time.”
“I’m glad he was able to buy it,” he said.
According to Gold, there is “no information” at this time about what the former hospital will become. “The goal is to understand the needs of the community,” he said. “There are no plans yet.”
In September, Superior Court Judge Deborah A. Chimes approved a contract between Citizens Bank and Eastern Niagara Hospital, authorizing Gold and David Wallace of Trigild IVL to proceed with the sale.
Bidding on the building started at $500,000, but Foster said he was not aware of the total sales price for the building.
Kids First’s mission is to ‘help every child reach their full potential’. The company started in Rockland County as a single therapy service. It now has locations in three states, including New York City and Buffalo, as well as Alaska and Georgia.
The property covers 2.5 hectares and the original part of the hospital building dates from 1908.
Earlier this year, Southampton-based Stitched Development LLC decided to buy the property for $2.2 million, pending approval by the city Board of Appeals of its plan to turn the old hospital into a nursing home.
Because the house is located in a single-family home, a deviation is necessary.
The zoning board filed Stitched Development’s request due to the lack of necessary documents, including a clear business plan, and shortly thereafter Stitched Development withdrew its purchase offer and received the deposit back, according to Hunt Real Estate agent Ronald “Gunner” Tronolone.
Attempts at 521 East Ave. to be sold have been underway since 2021 with a price tag of $3.5 million, which is the same as the appraised value of the building. Previously, ENH had engaged an agent from Hunt Real Estate to market the property, but no bids were accepted.
Because it no longer operates as a hospital, ENH no longer has tax-exempt status and would be responsible for paying property taxes to the city as soon as this year, according to former city assessor Tracy Farrell.
