OLEAN — A Buffalo-based developer purchased several commercial properties in Olean in recent weeks, according to county sales records.
Ellicott Development, founded by Carl Paladino and operating Olean 2020 LLC, closed on several properties, according to the December report of sales from Cattaraugus County Real Property and GIS Services.
The largest sale — for 129 N. Union St, the former Five Star Bank site — was for $416,000. The sale closed Nov. 30 and was recorded Dec. 6. Five Star closed the branch in January 2020 but continues operating a drive-through ATM site at the corner of West State and North First streets.
In addition, the closing on Archbishop Walsh Academy was completed for $200,000 on Nov. 28, with documents recorded Dec. 5. Built in 1959, the West State Street campus was put up for sale as part of bankruptcy proceedings related to child sexual abuse allegations against priests in the Diocese of Buffalo. A bankruptcy court approved the sale of the campus to Olean 2020 after the firm outbid three others at auction. Company officials reported that redevelopment plans continue, focusing on residential development.
In February, officials at Archbishop Walsh Academy and Southern Tier Catholic School announced they would relocate from its North 24th Street for the start of the 2023-24 school year. Later in the year, the former St. John’s School in North Olean was chosen, with the discontinuation of high school instruction accompanying the move.
Ellicott’s Olean 2020 also purchased the previous interests of St. Bonaventure University in 2810 W. State St. for $1. The site, where the former Bowlean bowling alley was once located, is now under construction for a Starbucks and site work for potential future development. The site was one of several purchased by Olean 2020 in late 2021 and early 2022 as Ellicott Development purchased the properties owned by Park Centre Development. Park Centre had been founded by Louis Magnano, a longtime friend of Paladino and occasional business partner.
OTHER LARGE PROPERTY sales recorded in the county in December:
F.J. Mahar Service Stores sold two properties that made up the former Park and Shop site on the 1300 block of West State Street to 1322 West State Street to Olean LLC, on Dec. 20 for $755,000. The limited liability corporation based in Williamsville was established in October, according to state Department of State records. The LLC’s address is listed as a Williamsville home owned by Mary Jacobi.
The estate of James Tekavec sold 6089 Route 219 South in Ellicottville — the former Slopeside Bar & BBQ — to Route Two Nineteen LCC for $1.3 million on Dec. 13.
Christopher J. Lee sold 4 Greer Hill drive in Ellicottville — a roughly 6,000-square foot, six-bedroom home, according to county records — to ECDV Revocable Trust on Dec. 1 for $1.9 million.
Paisley Door Properties LLC sold five residential properties from 3202-3218 State Street in the town of Allegany to Northeast Property Ventures LLC for $735,000 on Dec. 7.
