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WBEN NewsRadio 930>Audio & Video on Demand>>Managing the Former HSBC Tower - Richard Schecter

Managing the Former HSBC Tower - Richard Schecter

May 21, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

Once Seneca tower for the main street formally known as the buffalo headquarters of HSBC bank is nearly empty these days. And we're talking about and it's our spotlight story this morning joining us on the WB in line -- right now is Richard Schechter associate broker General Counsel. And senior director of pyramid brokerage. You're managing the buildings -- right Richard. Tell us. Are you a lonely guy at this building these days and who's there. Pretend that it's -- very large building is as everyone knows the building at shelters. Approximately one one point two million square feet. Which. There's 351000. Square feet of rentable office stage. We have partly twenty talent. Probably five or six -- -- -- would consider large kind of remaining tenants are smaller firms. About whether or where you're under. But we do that we just fires early large and building. Albeit with the building isn't about 6% -- currently. The board the foreclosure proceedings. The building was about 95 per -- Cuba. Mr. Schechter what's being done. To attempt to attract more tenants. It will really really -- we're going -- foreclosure process at this point it began in mid December. It could take several more months. To wind through the courts. But in order to protect the F -- Court appointed mean -- receiver I really work for the court. My goal is to preserve the property for the benefit of the trying to assure that whoever ultimately -- control or ownership of the property will get something -- controlling or owning. We are talking to. Pursuant to the court order. They -- mean afford to. Two receiver for the property or do have authority to enter into lease is up to one here. And were talking missile target at this point. But it does sound like because of the foreclosure. Because of the fact this is going into the courts and there has to be a lot of approvals. That some prospective tenants might be reluctant to command. You know. Not knowing what's gonna happen dollar -- to my right on the. Why can't address what other people think but I can tell you this we've had a lot of interest to them in the building we've shown the building several aren't we have a few -- -- where. In place now albeit short term leases that could materialize into a longer term -- once he -- The ownership. Question is so. Richard we appreciate your time this morning thanks for joining us. -- that's Richard sectors the associate broker broker in General Counsel the pyramid brokerage he has the on court appointed managing the former HSBC talent.

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