WALTER J. MAHONEY STATE OFFICE BUILDING IN DOWNTOWN BUFFALO SELLS FOR $4.1 MILLION AT AUCTION
5-Story Building Located at 65 Court Street in City’s Central Business District
Watch Video Showing Highlights of the Property Here
New York – RealEstateRama – New York State Office of General Services (OGS) Commissioner RoAnn M. Destito today announced the sale of the Senator Walter J. Mahoney State Office Building at public auction for $4.1 million to Douglas Development, whose founder and president, Douglas Jemal, stated he is considering developing the property as a hotel.
The building is located at 65 Court Street in Buffalo.
“A repurposed Mahoney building has great potential to become part of downtown Buffalo’s continued resurgence,” Commissioner Destito said. “The auctioning of underused State-owned properties is a priority for New York State, and we look forward to when the community will see a new use for the former Buffalo State Office Building on Niagara Square.”
A work group formed in 2019 made up of City, County, and State officials working with professional real estate consultants CBRE, determined that in the Buffalo real estate market, the highest and best use of the building was no longer State office space. The State made a commitment to the city to maintain its presence in Buffalo.
After COVID-19 initially delayed progress on the sale, OGS continued working with CBRE on the marketing and auction of the property.
A contract for the sale of the property is subject to approvals by OGS, and the New York State Offices of the Attorney General and State Comptroller prior to it going into effect. It is anticipated that a closing on the property and transfer to the new owner will take place over the next several months.
The minimum bid for the property was $750,000.
Description of 65 Court Street:
Watch Video Showing Highlights of the Property Here.
This five-story, 68,924-square-foot building sits on a 0.61-acre parcel on Buffalo’s Niagara Square in the city’s central business district and Joseph Ellicott Historic District. The Mahoney Building is adjacent to the Buffalo Niagara Convention Center.
Architectural highlights of the property include an impressive lobby, high ceilings, and intricate facade work. Portions of the movie “Marshall” were filmed inside the building.
The lobby and first floor contain unique architectural features, including original ceiling molding and stonework, murals and paintings of Western New York and the Buffalo area, and art deco metalwork and light figures.
The third through fifth floors were used as general office space. Each floor is approximately 11,695 square feet.
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