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 Oct. 30, 2024 was finalized on Nov. 21 through the Niagara County Clerk’s Office. The purchase price has not been disclosed.
The hospital shut down due to bankruptcy in June of 2023 and the property was put up for action through Tranzon Auction Properties first in April of this year and again in June after the first round of bidding did not satisfy the court-appointed receiver of 521 East Avenue, Triglid IVL commercial real estate.
According to Mike Foster, a representative of the local branch of Tranzon, the property was not sold through the auction, though he noted that Kids First was a “solid buyer” and its CEO and founder, Shraga Gold, had “been around for a long time.”
“I’m glad he was able to buy it,” he said.
According to Gold there is “no information” right now as to 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, Supreme Court Justice Deborah A. Chimes authorized a contract between Citizens Bank and Eastern Niagara Hospital, granting Gold and David Wallace of Trigild IVL to proceed toward sale.
Bidding for the building started at $500,000, but Foster said he is unaware of the total sale price for the building.
Kids First, according to its 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 is 5.8 acres and the original portion of the hospital building dates back to 1908.
Earlier this year, Southampton-based Stitched Development LLC moved to purchase the property for $2.2 million, pending the city Zoning Board of Appeals’ approval of its plan to turn the old hospital into a nursing home.
A variance was required because the property is in a single-family residential zone.
The zoning board tabled Stitched Development’s request due to the company’s lack of necessary documents including a clear business plan, and soon after, Stitched Development withdrew its purchase offer and received its deposit back, according to Hunt Real Estate agent Ronald “Gunner” Tronolone.
Efforts to sell 521 East Ave. have been ongoing since 2021 with a $3.5 million price tag, which is the same as the building’s assessed value. Previously, ENH had enlisted a broker from Hunt Real Estate to market the property, but no offers were accepted.
Since it is no longer operating as a hospital, ENH no longer has tax-exempt status and would be responsible for paying property tax to the city as soon as this year, according to former city assessor Tracy Farrell.