Douglas Jemal has bought himself an early Christmas present- the HSBC Atrium building in the Cobblestone District. Jemals Atrium LLC purchased the building from HSBC Bank for $9 million yesterday. The 250,000 sq.ft. building was completed in 1991 and houses significant back-office operations for HSBC Bank.
The property includes the building at 95 Washington Street and 7.65-acres including a 597-space parking lot that stretches between Perry and Scott streets. The Buffalo News reports HSBC will be vacating the building as much of its local workforce is working remotely. Jemal is planning 200 or more apartments for the building and has long-term plans to construct a parking ramp behind it surrounded by residential buildings with ground floor retail space.
The deal comes just months after Uniland Development announced plans to purchase The Buffalo News’ office building across the street.
Jemal has made a number of big purchases this year including The Mansion on Delaware, Mahoney Strate Office Building, the Century Theater parking lot on Washington Street, 368 Sycamore Street, 11 E. Mohawk Street, and several small buildings on the 500 Block of Main Street.