Days are numbered for the Statler

BUFFALO, N.Y. (WIVB) - It's hosted former presidents and even Elvis Presley.

Built in the 1920's, the Statler Towers was the premier hotel of its time, but it will soon be shutting its doors.

"It is a sad day for Buffalo."

The new Buffalo Statler Re-development Group has failed to come up with the money necessary to buy the Statler Towers.

"They were simply unable to raise the money the balance of the purchase price around $800,000."

A bankruptcy judge is now allowing the closure of the building.

Bankruptcy Court Trustee, Morris Horwitz explained, "We're gonna begin the winterization process which is the draining of the sprinkler system. Which is the boiler system at which point we'll ask the utility companies to turn it off and we'll close it down."

Most of the tenants are gone and the rest will be moving out in the coming weeks, including the King of Diamonds and Park Lane Catering, which operates the banquet rooms at the Statler.

Gabe Ferber's son and future daughter-in-law are getting married there in two weeks.

"This is a woman who has had her heart set on the Statler ballroomm, perhaps since she was a little girl."

He expects the wedding to go on as planned, but Ravi Sony booked a bridal shower for May and just heard the news of the buildings closure.

Some are hopeful that there's still a buyer out there.

Bankruptcy Court Attorney, Garry Graber stated, "From a purely economic point of view, it may have aesthetic value, it may have value as Buffalo's valuable architecture, but in terms of somebody willing to make an investment in it, today there is nobody."