The real estate market in Buffalo and Western New York has been booming for the last few years. As homeownership values have increased, there are a few properties around the Buffalo area that have not seen the boom in the market.
One property in particular has been stuck in a legal and process jumble after an arson fire took the largest hotel in Buffalo out of use, for now, what is turning into more than 3 years. Since the winter of 2021, the Buffalo Grand Hotel has been shuttered after a fire forced the closure of the massive building. Since then, the hotel’s owner has been battling with his insurance company to get paid in order to make repairs and reopen the hotel.
Just a month after an insurance settlement was reached and a path to reopen the hotel seemed in line, officials from the City of Buffalo started a legal process to seize ownership of the hotel…