Another auction involving the Statler Towers is on the horizon, but this time it is not the building that would go on the block.
The court-appointed trustee in the Chapter 11 bankruptcy case, Morris Horwitz, is asking for a judge's approval to auction off construction equipment and materials from the Statler. The property was mothballed in January, and plywood was affixed to its first-floor exterior windows and doors.
U.S. Bankruptcy Court Judge Carl L. Bucki will hear Horwitz's request on April 15. With the judge's assent, Cash Realty & Auctions plans to conduct the auction May 1 at its facility on Main Street in Buffalo.
Items on the list include a forklift, scissor lift, a compressor, pallets of tile, sections of scaffold, and tools.
"Despite the difficulty in finding a purchaser for the Statler building, these personal property assets can be auctioned now in order to prevent further depreciation, maximize their value, and provide much needed working capital for the maintenance and operation of the Statler building," Horwitz's attorneys said in a court filing.
Cash Realty ran the auction of the Statler Towers last August. The winning bidder failed to complete the $1.3 million deal, leaving the property's future in limbo.
Horwitz said he is still waiting for another buyer for the building to emerge.
The company that operated the Statler, Bashar Issa's BSC Development Buffalo, was forced into Chapter 11 bankruptcy last year.