Public hearing set for Market Arcade

March 24, 2014 Updated Mar 24, 2014 at 8:01 AM EDT

By James Fink, Buffalo Business First Reporter

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Public hearing set for Market Arcade

March 24, 2014 Updated Mar 24, 2014 at 8:01 AM EDT


In one of the final steps to complete the sale of the Market Arcade, the Buffalo Common Council will hold a public hearing on the pending $1.4 million deal.

Following a decision by the Buffalo Urban Renewal Agency to sell the 56,194-square-foot architectural landmark to Sinatra & Co., the common council will hold a mandated public hearing on the transaction. The session is set for April 1.

Sinatra's bid was considered the best of those received for the circa 1892 complex, located at 617 Main. All that's needed is approval from the Buffalo Common Council and a closing date for the deal can be set.

Nick Sinatra, Sinatra & Co. Realty president and founder, confirmed once the deal closes, he will move his company's corporate headquarters to the Market Arcade's fourth floor, taking all 8,000-square-feet and bringing 27 new workers into downtown's central business district.

"This will be its flagship," Sinatra said.

Renovations will begin once the deal closes and Sinatra hopes to have his offices relocated by this fall.

You can read more at http://www.bizjournals.com/buffalo/blog/morning_roundup/2014/03/public-hearing-set-for-market-arcade.html

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