Call Off the Bulldozers, Pull the For Sale Signs
The Long Island-based owners of the AM&As complex have pulled the property off the market and expect to proceed with plans for a renovation after all. Revived plans call for rehabilitation of both the main building and the warehouses along Washington Street into a mix of 180 apartments and ground floor retail. The new development comes just days after two prominent developers suggested demolition was the best solution for the prime, yet long-vacant properties.
New Horizons Acquisitions had put the properties up for sale with a $3.99 million asking price and in a strange twist now says the properties were put up for sale in error. According to this morning’s Buffalo News:
Fakiris said the AM&A’s complex was apparently placed on the selling block in error. He was looking into the matter Thursday but speculated that the “mistake” might have occurred when he was in Europe.
“I own the building, and the building is not for sale,” he said.
The jump-started renovation plans carry a $60 million price tag. A development soap opera!