BUFFALO, N.Y. (WIVB) — As the only bidder, Douglas Jemal is the new owner of the Hyatt Regency hotel in Buffalo.
In a foreclosure auction, Jemal bid $15 million for the building, which has been closed since March 2020.
Jemal’s company, Douglas Development, owns a number of buildings in the Queen City, including Statler City and Seneca One Tower. Additionally, he owns property in Washington D.C.
In one of Donald Trump’s final acts as President, Jemal was pardoned for a 2006 conviction for wire fraud. His sentence was probation.
The pardon stemmed from Jemal’s work rebuilding a number of urban settings, according to a statement from White House officials.
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