Overview

• Douglas Jemal confirmed the $10 million sale and said it includes the adjoining warehouse on Washington Street.
• Ian Mortimer, president of the Golisano Institute for Business & Entrepreneurship, said the purchase is for a Buffalo expansion and that more information will be shared next week.
• Acting Mayor Chris Scanlon welcomed the deal as a vote of confidence in downtown Buffalo and said the city looks forward to coordinating on the project.
• The transaction continues Jemal’s recent retrenchment in Western New York after selling the Boulevard Mall on Sept. 28 and stepping aside at the Richardson Hotel in June.
• Golisano’s latest move follows his $50 million gift to Oishei Children’s Hospital, which will take his name in January.