Historic Furniture Mart Building Faces Uncertain Future

JAMESTOWN -A Buffalo developer is making an aggressive push to acquire the Furniture Mart Building downtown, according to Development Director, Vince DeJoy.
“Several developers have inquired about the building, but it is my understanding that Ellicott Development has taken a very keen interest,” said DeJoy.
The CEO of Ellicott Development, Carl Paladino, whose track record is filled with success in the development world, told WNYNewsNow two weeks ago that he would like to purchase the building but not at the current asking price of  $22 million dollars.
“You still have to worry about finding tenants and operating a sustainable business,” Paladino said. “I have many concerns.”
DeJoy told WNYNewsNow on Tuesday that the city hasn’t had much contact with Paladino’s group lately.
“They haven’t come to us lately with a specific plan other than what was in the Downtown Revitalization Initiative,” said Vince Dejoy. “When they do, we will look at it and see how we can fulfill their development plans.”
The building’s largest tenant, The Connection, is moving out of the Furniture Mart Building in the fall and into the Lynn Building across from City Hall.

3 Comments

  1. Sell it to anyone you can, as soon as you can! Better to sell for less, than to have it sit empty and decay. We have way too many empty buildings, and then they are eventually torn down and we have an empty lot to look at. Is that asking price $22 million even reasonable?

  2. Ask Art… the concrete is literally crumbling… soon he won’t have any tenants… Digital left. Connection and others are also leaving.

  3. I have filed a complaint with the US Department of Justice for ADA violations for this building.

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