Interest expected to be high at One Seneca auction

Aug 25, 2015

Buffalo's tallest building could have a new lease on life soon. A court-ordered foreclosure auction is set for October 1 for One Seneca Tower.

Credit WBFO News file photo

The 38-story building has sat mostly vacant since HSBC Bank moved out in 2013.

Militello Realty President James Militello says given the potential it offers, he thinks many developers would like to get their hands on it.

"The average Buffalonian looks at it as a big empty building and a problem," Militello said.

"From a real estate standpoint, it's a phenomenal asset in a great location. That's what real estate development is about."

Militello says the tower could be reopened as an office building, or a mixed use complex with retail and condos. He says it offers mesmerizing views.  

"I think every developer would like to have their hands on that property because of the potential."