Interesting Developments Downtown - George Hamberger

00:05:56

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Downtown development there's a lot going on right now including. The progress is being made it one Seneca Buffalo's tallest downtown building also the Adam's Mark Hotel has changed ownership. And spring and George hamburger this morning a real estate broker with Hannah commercial. George good morning. Maurice who you watch in the downtown real estate scene for years now. We make of what's happening right now with. Well let's take a look at what's going out with one Seneca and now the analyst mark two which looks like it's about to get a big facelift. Well I'm just so excited that it always. Progress continues in it I always found it's been very. Very aren't strong market forearm down developers and by nearly thirty years in commercial real estate. I spent a lot of time developing out of context. Interest in the gulf war a lot of this find it on the Rohm and what we will call me this is like and find what they're looking for. Let I think areas than in plan and then moved up at the market to reflect. Over the last couple years I've brought people down the take a crack at that they just found after looking through a little bit and to. Can too heavy a lift to try to do something because you want all cash flow coming in at the moment. But the pluses and ask inflation certainly are in need a lot of work so I'm a mom my head off Ares and drawn out. And down here and do something the other mark I know he wants to prove himself because he only got shoved all the way with via. Central terminal project that is last year but he's certainly capable guy and anybody can do it he can and I'm just like to see what's gonna happen. You know. Looking at that idea of the out of town developer coming to buffalo are you surprised to see that people from. Out of town taking on such big projects here in buffalo. Yeah I'm not I don't know I think. Over the years I I I've noticed that they see ball for the bargain Lisa and bargain compared to other markets in other countries adult about. Other countries people through. Who come here and there it always intrigued by the architecture they say if they're here for a couple weeks ago polite to people. Year. A lot of moved on me they'd like totally clear if they could you know because once they've been trying to market. Like Belgium well you know bought a house here in buffalo article. In the Delaware district. People just lord hear the newer architecture and they loved the opportunities. That vote will provide. What about a judge in Holland of the one Seneca building and how far he's have gotten with dance and to land today. Or is that what your line of our party and opened by the time. So there's a lot there to work with you scenery of course I think you get a good. Staff and professionals around them so. They have to do it you know bit by bit because it is almost to do it. I think community don't let the market dictate some of war he goes there which I think is Smart way to do it. Are you happy to see I'm in our other two buildings and in more of a need of a face lift them once Seneca tower. And the Adam's mark to such prominent buildings that are basically neighbors in the grand scheme of things downtown. Well they certainly are you know it's in everybody's vision of I think it's not immigration issue is ready for these guys are urban communities where are doing. George Bush next what else is out there in buffalo that's. In need of attention Mahler Harry Stinson. Well I I think I have really been impressed last couple years with someone like Rocco Germany and he's going into different neighborhoods. Or on the west side and other areas of the city that in the long forgotten. It I've just been amazed at its provisions some of these guys. Whether or out of town or local developers and we've got some great local as I've been amazed at division for taking your big. Want him in a bowling were. Was a 110 years ago in making this something very contemporary cool and cool air cool the word I shall what they're doing. So I just every day I'm just so we know what I see after nearly thirty years in commercial real estate and just soul happening right now. It's just been getting better and better. When you look at the landscape of buffalo we we see the work being done at once Seneca and now we have the Adam's mark to so many other. Places that are being redeveloped I was just walking past DS soon to be Labatt house right next to the arena yesterday. Old building that's right in the public guy. It's going to be turned into something new. Are other buildings still kind of on the or maybe a red flag Lister around the city of buffalo. That you look at and see ma'am we need to do something that's. Well I I I could begin to look soft on my head you know where you little ought to probably think this bullet went. What the problem for a while was that the owners as some of these buildings alone for years. And that they kind of hold out heard what they think is the ceremony for the bowling. Nobody can preach family with seven Perry street nick in the arena. That it was bought you know they've they have been trying to sell left a number of years. And I know they got what it's seven million dollars. For the bowling as a news. But the rules can do that. Saw I think that in the nation for awhile that the people hang onto a golden. Think you were more than what people really gonna readily offer for earth and leisure people have to offer what they think. Quite that can work in the overall design when we're done we doing. I have to look at your acquisition government spent and sometimes sellers don't see that. Hey George are great talking with you this morning in panic kicking things off forest that's George hamburger he's a real estate broker with Hannah commercial.
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