Monday, May 17, 2010

Buffalo Statler Sale: Mission Accomplished?

" Dirty Job Goldman "

The word is that one of the sales leads from the unpaid volunteer guerrilla marketing effort has resulted in a $50,000 deposit being placed in a bank and a Statler sales contract is expected to be signed today. We had to break a few eggs and mess up the kitchen a bit, but we got 'er done. 

YES!!! YES WE CAN!!!!!!!!!

Of course, a sale is not complete until the due-diligence period is complete so let's not celebrate yet. However, this is a milestone in the sales process.

June 2010 Update:
The 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.

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