BUFFALO, NEW YORK The shuttered Hotel Niagara in Buffalo will be put up for auction next month after the owner, State Bank of Texas, failed to sell the property.
Bids for the 12-story, 193-key landmark property will start at US$145,000. The auction is scheduled for April 26 at the hotel and will be conducted by Chartwell Group of Cleveland.
State Bank acquired the property after former owner Amidee Capital Group LLC, Houston, defaulted on its mortgage. Amidee purchased the property in 2007 for US$4.8 million and got about a quarter of the way into a US$20 million renovation before running out of funds.
The hotel was built in 1924 and was once Buffalo’s hippest hotel. It hosted actress Marilyn Monroe in 1953 when she filmed the movie “Niagara.”