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Olean Center Mall sold to Rochester investor


At its peak, there were more than 25 stores, mostly national and regional retailers.
Credit: Getty Images/iStockphoto
Published: 9:43 AM EST January 15, 2021
Updated: 9:43 AM EST January 15, 2021
OLEAN, N.Y. The Olean Center Mall may find new life since the property has been acquired by a Rochester developer with a track record of reviving troubled buildings.
Angelo Ingrassia, through his Olean Town Center LLC affiliate, has bought the Olean Center Mall from Zraj Olean LLC, an affiliate of the Zamias Services Inc. of Johnstown, Pa. The mall is at 400 N. Union St.
According to Cattaraugus County records, Ingrassia s Olean Town Center LLC paid $7.2 million for the 44-year-old mall, the largest retail complex in Cattaraugus County. You can read the full story on Buffalo Business First s website.  ....

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Top 10 local stories of 2020


COVID-19 rocks region
Historically, the Times Herald polls staff on the top 10 stories of the year to compile the list. This year, however, the poll only included places 2 through 10, as there was no question to what the top story of the year would be — the COVID-19 pandemic.
SARS-CoV-2, better known as COVID-19 or coronavirus, was first reported in China in December 2019. The first local mention of the disease was published in the Times Herald on Jan. 27, with health officials reporting they were trying to prepare for the disease if it came to the area.
It was not a case of if, but when. ....

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Olean Center Mall sold to Rochester developer


OLEAN — A specialist in restoring old malls to economic vibrancy has purchased the Olean Center Mall.
Mayor Bill Aiello reported Monday that Angelo Ingrassia of Rochester has bought the 44-year-old mall from its original owner, Zamias Group, for an undisclosed amount.
“Mr. Ingrassia specializes in redeveloping distressed properties and is currently working on a redevelopment plan for the site,” Aiello said. “We look forward to working together and supporting his efforts as he transforms this underutilized property located in the center of our downtown.”
Ingrassia could not be reached for comment by press time.
Aiello said the city received a lead this summer to connect Ingrassia to the mall’s owners. ....

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