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Jemal caps $4.1M Mahoney bid with $5M Simon properties acquisition

Less than one day after winning the Walter J. Mahoney State Office Building, developer Douglas Jemal closed on the Simon Electric Co. properties.
Credit: Google Maps

BUFFALO, N.Y. — Two downtown Buffalo properties sell for $9.1 million in less than 24 hours. Who's the buyer?

Less than one day after winning the Walter J. Mahoney State Office Building, developer Douglas Jemal closed on the Simon Electric Co. properties in the central business district.

That means he bought two downtown holdings for $9.1 million in less than 24 hours. On Oct. 7, he bid $4.1 million for the Mahoney Building that will be renovated into a 70-room boutique hotel. The next day, Jemal's affiliate, Jemals Simon, paid $5 million for the Simon properties.

Read the full story from our partners at Buffalo Business First.