The planned sale of One Seneca Tower in downtown Buffalo to a New York City businessman has fallen through.
Real estate broker Rick Recckio says his client, Harvey Kaylie, backed out of the deal because he could not find any co-investors to share the $27 million purchase price.
Recckio noted that there are many upfront costs in the purchase and the planned renovations to Buffalo's tallest building, previously known as the Marine Midland Tower and HSBC Tower.
Kaylie had proposed a $100 million redevelopment project to include 100 apartments, 15 floors of office space, ground level retail, a top floor restaurant and observation deck and, perhaps, a boutique hotel.
