Volunteer Promotional Website For The Sale Of The Buffalo Statler Towers

B u f f a l o  S t a t l e r . c o m

Please Visit The New StatlerCity.com Website!

●  For Sale  ●  Historic Landmark Hotel  ●  Buffalo Statler Towers  ●  For Sale  ●

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Buffalo Statler Towers For Sale buffalostatler.com

Release: April 30, 2010  

BUFFALO STATLER TOWERS SALE PUBLICIZED THROUGH DONATION BY NEW MARKETER
For information: 716-833-6111  

The Statler Towers, Buffalo’s flagship historic downtown hotel on Niagara Square, is being newly publicized as for sale through Internet advertizing donated by local businessman Howard Goldman. As a public service, Goldman, the owner of a neighboring property, is voluntarily marketing the building through the Web site www.buffalostatler.com , and will also be advertising the hotel through other media.

Goldman said, "I am grateful to Morris Horwitz, court-appointed bankruptcy trustee, for the opportunity to help Buffalo's favorite building find a new owner. When a successful bidder at the auction failed to secure financing and complete the transaction, the bankruptcy estate ran out of money and there were no resources to begin a sales campaign. That is why I offered to invest a little bit of my own effort to get the word out with some guerrilla marketing. I believe in the Statler.

"The tremendous love for this building has caused many of us in the community to panic a little and over-sell the value of this property.  This creates a tremendous buying opportunity for someone with a fresh set of eyes. The closing of the Statler as a business was not the fault of the building itself -- it was an unfortunate result of an owner's external financial debacles."

A grand hotel built in the 1920s, the Statler was most recently sold in a bankruptcy auction for $1,300,000. The buyer, William Koessler, had been a former tenant but after winning the auction, fell short on the financing. Prior to that auction the hotel had been owned by British developer Bashar Issa.

The Statler has features that Goldman emphasizes have potential without necessarily requiring the type of full restoration that Issa planned. The Golden Ballroom played host to lavish weddings and parties as recently as several months ago. The Statler has been an uninterrupted going concern since 1923. Businesses occupied the building until several months ago. It is well within the realm of possibility that Buffalo's Statler Towers can have a future to match its glorious past.


Update: May 1, 2010
 http://www.buffalorising.com/2010/05/web-site-seeks-statler-buyer.html

Web Site Seeks Statler Buyer

Web Site Seeks Statler Buyer

The Statler is being newly offered for sale through local businessman Howard Goldman.  As a public service, Goldman, the owner of a neighboring property, is voluntarily marketing the building through the web site www.buffalostatler.com, and will also be advertising the hotel through other media.

Goldman says, "I am grateful to Morris Horowitz, court-appointed bankruptcy trustee, for the opportunity to help Buffalo's favorite building find a new owner. When a successful bidder at the auction failed to secure financing and complete the transaction, the bankruptcy estate ran out of money and there were no resources to begin a sales campaign. That is why I offered to invest a little bit of my own effort to get the word out with some guerrilla marketing. I believe in the Statler."
....Read More

Blog Post: May 6, 2010
http://howardgoldman.blogspot.com/2010/05/what-i-did-on-my-spring-vacation.html






Update: May 17, 2010
All existing agreements authorizing the BuffaloStatler.com website to make representations on behalf of the seller are terminated as of May 17, 2010. Garry Graber, attorney for the bankruptcy trustee, expressed his appreciation for the volunteer website's contributions to the sales effort. The free guerrilla marketing promotional effort has fueled so much renewed interest in the property that brokers are now asking to get involved. To cooperate with broker involvement, BuffaloStatler.com will no longer directly represent the seller in any official or authorized capacity. This will not change the function of the website and interested parties will continue to be referred to the seller.

~Howard Goldman



Update: May 20, 2010
Buffalo News story
No "alarm bell" rings as Statler misses "most endangered" list.
By Matt Glynn, news business reporter
http://www.buffalonews.com/2010/05/19/1055755/no-alarm-bell-rings-as-statler.html


Update: June, 2010
The BuffaloStatler.com marketing effort has brought several qualified buyers (out-of-towners and local) to the table - cash in hand and willing to pay the asking price. Each time it was the seller, not the buyer, who got cold feet. I have confidence that the building will be under contract soon and that the successful buyer will have displayed an impressive amount of patience. Patience is an important quality to find in a new Statler owner, so perhaps this slow process is actually a blessing in disguise.

~ Howard Goldman

Update: July 29, 2010
My experience voluntarily marketing the Statler reminds me of my first car. I made the old car run by getting in and driving around with a toolbox just to see what would break down - so that I could fix it and see what broke down next. Eventually the car worked fine. 

When I first got involved, the Statler was for sale - but wasn't exactly for sale because nobody knew it was for sale. Sales information was nowhere to be found on the Internet. People naturally assumed that the Statler was not sellable because there were no qualified buyers appearing. The Statler was being scheduled for abandonment. Creating the BuffaloStatler.com website and a free Loopnet ad brought in qualified buyers from near and far. This fixed the matter of the sale's secrecy. 

Over the next several weeks, there was a series of arcane seller issues. There were also questionable obstacles: interference, threats, and intimidation from entrenched interests. That has been fixed.

There was an obstacle to the buyers that has also been fixed. A public mindset had been established that the Statler was a 100+ million dollar total restoration project.  I emphasized a much more modest business plan to the buyers.  The Statler has potential without necessarily requiring the type of full restoration that owner, Bashar Issa, planned. The Golden Ballroom played host to lavish weddings and parties as recently as several months ago. The Statler has been an uninterrupted going concern since 1923. Businesses occupied the building until several months ago. The Statler can bring back tenants one by one, slowly over time, build to suit according to market demand, and steadily build on the already accomplished restorations.  This modest business plan has been made practical by the city’s lowered tax assessment. 

Fortunately, I did not run out of persistent qualified buyers to help advance the process each time to the next breakdown. We are closer than ever. I am confident that we will arrive soon - but we aren't ready to drive around without the toolbox.

~Howard Goldman



Success: August 2, 2010
BuffaloNews.com

The Statler Towers has renewed hope for revival, with local businessmen Mark D. Croce and James J. Eagan making a bid to buy the mothballed property.

The total value of their offer is about $700,000, including their $200,000 bid plus the outstanding taxes on the property the partnership would assume.

For now, Croce and Eagan are not commenting on their plans for the Statler. Their attorneys say the partners want to finish acquiring the property, a process that will play out in Bankruptcy Court.
...Read More

 
August 8, 2010 Bankruptcy Hearing Tomorrow:
One thing I have learned is that the Statler can always be relied on to provide its share of drama. Expect past characters to re-enter the play.


August 9, 2010
http://www.wben.com/Statler-s-Future---Anything-Can-Be-Done--If-You-Sp/7866226 


August 30, 2010
Congratuations, Mark Croce and James Eagan!
www.StatlerCity.com  



October 12, 2010




Buffalo News Photo
http://www.buffalonews.com/business/article218496.ece


November 10, 2010

The 800,000-square-foot Statler, built in 1923, could be headed for demolition, preservationists warn.

Bill Wippert/News File Photo

Statler buyers face Monday deadline

Read Buffalo News Story


January 20, 2011
Mark Croce To Finalize Purchase Of Statler.

http://www.buffalonews.com/incoming/article318298.ece

http://www.bizjournals.com/buffalo/news/2011/01/20/croce-poised-to-take-control-of-statler.html


Croce clears hurdles in Statler takeover: wivb.com


February 22, 2011
Mark Croce Is One Piece Of Paper Away From Owning The Statler.





February Fundraiser.




Donn Esmonde Column /  Buffalo News 
Sunday, March 22, 2011

Friend's Vision Helped Save Statler
The politicians and the principals clustered on the makeshift stage Wednesday in the lobby of the Statler Hotel, celebrating the sale of the endangered downtown landmark to developer/ restaurateur Mark Croce.
At the edge of a gaggle of spectators, a middle-aged man with blond hair softly played the piano, unnoticed. Yet it was Howard Goldman, perhaps more than anyone except Croce, who deserves credit for the rescue of the iconic building in the shadow of City Hall.
Like most big stories, this one has a personal connection at its core. Goldman and Croce have been friends since meeting as struggling businessmen some 20 years ago. Goldman is restoring the old brick mansion just steps from the Statler. His affection for Ellsworth Statler’s 1920s flagship dates to when his late accountant father had an office on the second floor.
After a prospective sale failed to close last year, Goldman—spurred by nightmare visions of wrecking balls— launched a one-man crusade to save the 18-story edifice. With the bankruptcy trustees’ blessing, he created a website -- www.buffalostatler.com -- to market the property and gave tours to interested parties. And he bugged his old buddy Croce, now the king of Chippewa District nightlife, to make a bid.
“I told [Croce] even before the [2009] auction that he should get this place,” said Goldman, who runs an e-commerce business and is the husband of News music critic Mary Kunz Goldman. “I knew that the skeptics had it wrong.”
Goldman was arguably the first to understand that the building could be bitten off in small pieces. It was the strategy that saved the Statler.
“I thought you could open the first levels and make them self-sufficient, then build the rest to suit in the future,” Goldman told me, minutes after Croce signed ownership papers. Which is why he kept pounding the plan at Croce— who loved the building, but thought it was too heavy of a lift for him.
“I didn’t think I’d have an interest, it is such a monumental property,” Croce told me. “Howard’s approach made it scaleable . . . He convinced me that the building was savable.”
Goldman knew that the gorgeous ballrooms and lower-floor open space were ripe for moneymaking bars, banquets and weddings—businesses right in Croce’s wheelhouse.
“I know the hospitality business,” Croce said. “It will be easy for me to get this [lower] level going again, to create a lobby bar and a lounge and make it a fun place.”
They are an odd couple. Croce is a plain-spoken, scuffed-edge street guy. The dapper Goldman apologizes when a four-letter word slips out in conversation. But they share a love of business and opportunity. It added up to Statler.
Goldman’s step-by-step plan convinced Croce to lay out $700,000 for the purchase and back taxes. There is a prospective $5 million subsidy to seal a building that would cost taxpayers $20 million to demolish.
“Howard and I had a lot of midnight conversations about the possibilities,” said Croce. “[Eventually] the conversation became not ‘why?’ but ‘why not?’ ”
Croce acknowledged Goldman’s part in the saga Wednesday, giving a shout-out to the unnoticed guy at the piano. The public thanks and the Statler’s survival is all that Goldman will get—or wants—for his efforts. That, and one more thing: He can play the lobby piano whenever he wants.