BUFFALO, N.Y. — Douglas Jemal now officially owns the former Buffalo News building, and he's keeping his options open on what to do with the property.
"It's very valuable," he said. "Maybe not today, where the market is today, but long term. And I've always looked at things long term."
Jemal's News LLC bought the 160,000-square-foot building at 125 Washington St., also known as 1 News Plaza, from The Buffalo News Inc. for $5.2 million, according to records filed with the Erie County Clerk's office. The deal also included the parking lot at 33 Scott St.
The building is located next door to the former HSBC atrium, which Jemal bought for $9 million in 2022. Combined with the parking lots of both buildings, that's about 15 acres of downtown real estate.
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