The former Sheehan Memorial Hospital is scheduled to be auctioned on Nov. 29. Madison Hawk, a national real estate firm, will conduct a real estate auction sale as part of Chapter 11 bankruptcy proceedings for the former downtown Buffalo medical facility, which was officially closed this summer. At the time, Sheehan listed $6.3 million in assets and liabilities totaling nearly $5.5 million. The former hospital’s biggest asset is its real estate, which includes the shuttered five story building and the 8-acre site upon which it sits.
The property is zoned residential, which allows for a future multi-unit residential development to be developed on the site. It would be sold at or above a bid price of $2 million. The auction will take place at U.S. Bankruptcy Court, 300 Pearl St. Qualified bidders will be required to bring a $200,000 certified check to the auction.