Bankruptcy Hearing on Statler Building

August 9, 2010 Updated Aug 9, 2010 at 4:33 PM EDT

By WKBW Internet

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Bankruptcy Hearing on Statler Building

August 9, 2010 Updated Aug 9, 2010 at 4:33 PM EDT

BUFFALO, NY (WKBW) - The landmark Statler Building in downtown Buffalo will be up for sale on August 30.

Buffalo businessman Mark Croce has expressed interest in the building submitting a $200,000 bid, however other interested parties will have until the 27th of August to submit their qualifications, with bidding to begin on the 30th.

Prospective buyers would have to assume the costs of outstanding taxes totaling approximately $500,000.

In August of 2009, the New Buffalo Statler Redevelopment group won the building in auction, but failed to complete the $1.3 million deal.

Morris Horwitz, the building's trustee, says if he cannot find a viable new owner for the Statler through this process, he will have no other alternative but to abandon the structure.