Big Deal: Jemal Submits Highest Bid for Mahoney

In what shouldn’t come as much of a surprise, Douglas Jemal submitted the high bid for the Walter J. Mahoney State Office Building located at 65 Court Street next to his Statler building. He beat out eight bidders at this morning’s auction with a $4.1 million bid. The NYS Office of General Services worked with CBRE Buffalo on the sale that had a minimum bid amount set at $750,000.

According to The Buffalo News, Jemal plans to spend $20 million to turn the building into a 60-room boutique hotel. The five floor, Green & Wicks designed building opened in 1931 and contains approximately 69,000 sq.ft. of space.

Published by BuffaloRising

Share This

Facebook
Twitter
LinkedIn
GAR Associates LLC NY Appraisal and Consulting Firm

Call GAR Associates at (518) 579 - 3770 to begin your next appraisal project

Are you a town or municipal looking to deliver real property assessments to the public with a few clicks? PROS is here.