LOCKPORT, N.Y. — Citing uncertainties in the health-care world, the buyer has backed out of a deal to buy Eastern Niagara Hospital’s closed Newfane site.
Castello Holdings LLC had just received approvals from the bankruptcy court for the $1 million deal, with plans to redevelop the site for senior housing or assisted living.
Daniel Dadbin, the owner of Castello Holdings, based in Orlando, Florida, was in town this week to check out the site. He determined the timing wasn’t right for the deal after several potential operators backed out.