July 25, 200422 yr Got to love it. Lots of built-in security, and plenty of storage space for the vast wealth you are accumulating: link Fed building up for sale; list price: $3.9 million By SHARON LINSTEDT News Staff Reporter 7/24/2004 One of downtown Buffalo's most unusual properties now has a "For Sale' sign on it. The Federal Reserve Bank, located at 160 Delaware Ave., officially hit the market this week with a $3.9 million price tag. "In our opinion, it's one of the most unique and exciting opportunities in downtown in a long time," said Carey Anderson, a broker with JR Militello Realty, the firm handling its sale for the government. The structure, which has been home to the Federal Reserve Bank since 1957, offers such unusual amenities as a gun turret, shatter-proof mylar windows, an indoor shooting range and seven basement vaults. Those non-standard features notwithstanding, Anderson said the 130,000-square-foot building is really a traditional office building. "That's why this is a signature opportunity, the range of uses is amazing. It could be a financial institution, conventional office, single or multi-tenant," she said. The building also comes with what's considered a "holy grail" of downtown commercial buildings - on-premises parking. The site has room for as many as 160 vehicles in its surface lot, with a handful of interior parking bays. Other features include: a 112-seat cafeteria, a small gymnasium and two back-up generators. The broker said there's been a lot of early interest in the downtown site and she expects a relatively quick sale. The Federal Reserve's decision to sell its long-time home comes as the government consolidates its U.S. Savings Bonds processing operations from seven to two sites. The changes are also expected to reduce the bank's local employee roster from a current 125 to around 60. At its peak, the reserve bank employed 300 workers. No announcement has been made regarding where those remaining reserve bank employees will be housed. See, and plenty of room for the staff.
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