New Jersey developer buys downtown Waterloo building

An entire block of downtown has changed hands, the Village Board was told Monday.

Developer Howard Friedman of New Jersey has bought the entire block of connected buildings on the south side of West Main Street from Brooklyn developer Lee Bieber.

“Within days of the closing, the new owner brought his contractors up to gut the upper floors at 3 and 5 West Main so he can renovate them into apartments,’’ said Mayor Ted Young.

Young said Friedman plans to convert the street level space into retail or commercial uses, once the apartments are completed.

Friedman, Bieber, village consultants and village officials are working to extend the time for a New York Main Street grant awarded to Bieber so it can be transferred to Friedman to help with the renovation costs. Bieber still owns the Main Street Shop Center and Stan’s Restaurant on the north side of East Main Street, plus several other downtown buildings on Virginia Street.

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