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Cashing In On Buffalo’s Waterfront

This one is almost too good to be true. I just got off the phone with Cash Cunningham and he has big, big news regarding the sale of the 20-acre Freezer Queen property. It was purchased for $3,000,000 by a few investors, one being Ontario Specialty Contracting, with the intentions of… get ready… condos, retail, and hotel. The new owners are looking into keeping the current structure, but it will take further review to see if that is feasible. “The aerials are amazing,” Cash told me. “It’s an incredibly large piece of land and the development bodes extremely well for Buffalo. There is local control of the project, and the combined parties involved will make sure that this project gets moving. All of the land surrounding Freezer Queen is government and agency owned, so it’s difficult to get things done. In this case it’s a private developer and they have the resources. This property will most likely be the catalyst for that whole corridor.”
I asked Cash about the bidding process to which he answered, “I knew that there was going to be an interest, but I had no idea how much of an interest. It was an oral bidding with 70-80 qualified bidders. There must have been a dozen certified checks in excess of $100,000 being waved around. The new owners did their homework. They walked the property, researched the building… these guys are prepared and well-suited to do the job.”
See Freezer Queen BRO post on Hot property and comments.

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