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New York City Investor John Catsimatidis and Investor Philip Ruthen both express interest in Buffalo’s vacant One Seneca Tower in what will be a likely tough deal’ for John Catsimatidis and Phillip Ruthen’s largest to date

John Catsimatidis owns the Gristedes Foods in Manhattan, the Red Apple Group and the Warren, Pa.- based parent of the Kwik Fill chain – confirmed that he has “looked at the building” and has also engaged in discussions with another bidder, Phillip Ruthen of Connecticut, about a possible collaboration in the purchase of the building. However, both Catsimatidis, who toured the building on a recent visit to Buffalo, and Ruthen say they have not agreed to any deal to work together.

“We talked, but we are not partners,” Catsimatidis said by email. “We have interest, but it’s a tough deal.”

Phillip Ruthen is managing partner of Global Capital Partners, a Hong Kong-based real estate investment and development firm that has joined the fray of suitors for Buffalo’s One Seneca Tower. He and his team – which includes a couple of family wealth offices – have offered to pay about $50 million for both the 38-story tower and its attached parking ramp on Washington Street, and to spend over $100 million on a redevelopment. If the offer is accepted, it would be the largest venture he has tackled, and likely to occupy the bulk of his time for several years.

Meanwhile, no other details were made available about the newest purchase proposal for the 38-story tower or the potential buyer, except that the offer came this week from out of town. It has not yet been accepted, real estate sources said. However, those sources also revealed that the said offer is not from Catsimatidis norRuthen. The offered is also not from Harvey Kaylie, another New York City businessman, who canceled his own $27 million cash deal to purchase the 1.2-million-square-foot complex just two days before his due-diligence period expired, after struggling to line up enough partner financing to make the entire project work. However, the said offer came from a group of both Chinese and domestic investors represented by Hunt Real Estate Corporation’s Chief Executive Officer, Peter F. Hunt. That adds an entirely new individual or group to the mix of potential buyers, even as all the local developers continue to stay away from a project whose costs experts say could go as high as $200 million.

“Somebody has to have the deep-enough pockets and endurance to stick this out. It’s a multiyear project. It’s not going to happen overnight,” Hunt said. “You’ll need a developer with vision who can deal with all the naysayers. Are they standing in line? No, but someone will come along.”

One Seneca is currently owned by LNR Properties, the special loan servicer representing bondholders who held a $91 million mortgage on which the prior owner, Seneca One Realty, defaulted. Built in 1972 as the headquarters for Marine Midland Bank and long dominated by Marine and successor HSBC Bank USA, the tower is now 96 percent empty, after HSBC and Phillips Lytle LLC left the building almost simultaneously in late 2013, triggering the previous servicer to initiate foreclosure proceedings. LNR took possession of the tower last October, followed by the accompanying five-story parking ramp in March. LNR then put them both up for sale but insisted on a quick, two-week due-diligence period and a fast closing, which has puzzled many in the local real estate community who see such demands as unrealistic.

Kaylie, who had unsuccessfully bid on the tower at the October 2015 foreclosure auction, had planned a $100 million redevelopment of the building into a mixed-use complex with office space, apartments, a restaurant, an observation deck, a retail mall and possibly a boutique hotel. Ruthen said he would have offered about $37 million and “would have closed already” but his bid was contingent on financing, and his plans envisioned a total spend of over $150 million. Hunt would not provide details of his clients’ plans. But it’s the involvement of Catsimatidis in the process that adds a new level of financial capability, experience and even national visibility to the entire effort.

Born in Greece in 1948, Catsimatidis immigrated to the United States with his family and grew up in Manhattan. He studied electrical engineering at New York University but dropped out before graduation after working in a small Harlem supermarket and then buying out one of the owners. He opened his own store in 1971 and then bought a second one, which he named Red Apple.

By the time he was 24, he’s had 10 stores, and by the end of the summer in 1981, his businesses had included 27 stores in the Bronx and Manhattan, with over $40 million in annual sales. He bought 36 Gristedes Supermarkets and 11 affiliated stores in 1986 from 7-Eleven parent Southland Corp. for $50 million, adding additional Sloan’s Supermarkets and Food Emporium locations. He also purchased United Refining Co. of Warren, Pa., which operates refineries as well as the Kwik Fill, Country Fair and Keystone convenience and chains of gas stations, with 400 locations.

Today, his Red Apple Group has about $700 million to $800 million in real estate and aviation holdings in New York, Florida, and the U.S. Virgin Islands, with $3 billion in annual revenues and 8,000 employees. He also owns the Hellenic Times, a Greek-American newspaper in Manhattan, and hosts a talk radio show. And he’s ranked 182nd out of the 400 richest people in America by Forbes, with an estimated net worth of $3.4 billion.

Ruthen said that “a guy with his kind of net worth” could bring his own team to the table and make any other bidder a much stronger player. “He’s a smart, successful and really interesting guy, with tremendous insight, and it was a very interesting and informative meeting,” Ruthen said of his discussion with Catsimatidis. “If he decides to partner with someone on the deal, (that person is) going to be very lucky.”

The law office of Daniel M. Morrin is perfectly capable of taking up both straightforward and complex cases pertaining to social security disability, workers’ recompense, grievous injury or accident while in harness.

Westbury, NY, Aug 11^th, 2016 -- Working in today’s competitive industrial and/or commercial environment is fraught with risks. Regardless of whether an individual is employed as an in-house technician or engaged in a backbreaking factory job, there’s always the possibility of the person becoming incapacitated due to grave injuries or wounds resulting from unforeseen accidents and/or unexpected mishaps. There’s the likelihood of the worker or employee tripping down the stairs, suffering an ailment, losing one’s sight or becoming deaf because of the working conditions ultimately losing the ability to work. In such a scenario, the injured or out-of-action worker may find it extremely difficult to make ends meet or support a family owing to unanticipated loss of income.

On top of that, the individual has to provide for pursuing a workers’ compensation claim case that can ultimately lead to acute mental stress, not to speak of the physical discomfiture. Daniel M. Morrin is a reputed and established lawyer based in Westbury, NY who has amassed extensive experience in dealing with ‘social security disability’, accidental injuries and wounds’, and ‘workers’ compensation’ cases. In this regard, he is ably assisted by Brian A. Sands along with a team of skilled legal professionals that go out of the way to assist clients in every possible way with the pious objective of mitigating their problems. Daniel Morrin makes the most of his over three decades of professional experience to confront challenging legal situations and make it easy for his patrons to tide over the crises.

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About Us:

The law firm of Daniel M. Morrin with offices in Westbury, New York, offers able representation for SSD, workers’ compensation, and workplace accident cases.

Popick&Rutman helps clients to obtain legitimate compensations through fighting their cases aggressively. It offers free confidential consultation to clients.

Flushing, NY, Aug 11^rd, 2016 --Many people are not aware of their legal rights to claim compensations for anyaccidental injury that is being caused by the negligence of others. There are many private legal firms that help clients in obtaining fair compensation for various personal injury related cases. Popick & Rutman is one such New York law firm that helps clients to get their rightful compensations for any type of personal injury related case. Attorneys working with this firm have the experience of over 30 years in handling various types of cases related to personal injury. All its experienced lawyers know how to construct cases to obtain favorable verdict on behalf of the clients.

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About Popick and Rutman:

Popick&Rutman is a New York based legal firm which was founded by prominent legal experts named Brad M. Popick and Rick Rutman. This legal firm is specialized in dealing with various personal injury cases. For more information, viewers can log on to its website.

RADICS Network is a comprehensive, powerful, easy-to- use, highly secure, cloud-based performance data collection and management tool, designed to consolidate and streamline the collection, management, and reporting of performance data for nonprofit organizations.

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An erotic escape about the everyday woman, finally giving in to her inhibitions—with some twists and turns along the way.

In her debut novel The Fantasy Maker, author Emily Kendricks writes of a relatable everyday woman—Emma. Emma’s husband has recently been elected mayor of the small town of Denton, Texas. She is a loving mother and a loving wife, but Emma is a woman—whose well-intentioned husband simply can’t, or won’t, fulfill her intimate desires.

In an effort to alleviate her sexual frustrations, Emma’s friend introduces her to a ‘members only’ club The Ranch—where pleasure is the main attraction for the wives of Denton’s rich and powerful. What begins as pampering full-body massages and mani-pedis, transitions into tantalizing pleasures beyond Emma’s wildest dreams.

“Just because a woman is in love and happily married, does not mean that her sexual desires are being fulfilled,” said Kendricks, “This isn’t to say that the intimacy isn’t meaningful, just that it may be lacking.”

Being the wife of Texas’s most promising young politician, Emma is at risk for exposure. In an unexpected turn of events, Emma’s new found pleasure becomes a secret that could destroy both her marriage—and her husband’s career.

“What I really enjoyed about this erotic novel, is that it isn’t just fluff. Yes, it gives you the steamy scenes you crave, but it also provides you with a solid plot, and a character you can relate to. Emma could be me.” Kerry Ferguson (5 stars)

“This little novel took me from one emotional extreme to another as I followed Emma's emotions on each page. I was fascinated with the erotic charge supplied by the new friend she made at the ranch and eagerly finished each chapter to see where the author would lead us.” S. Foster – Goodreads (5 stars)

Emily Kendricks is a Penn State graduate with a degree in Law Enforcement. Combine that with her love of both romance and crime novels, and she has found a way to balance erotic fantasy with suspenseful storylines. She calls New York City home, and her debut novel The Fantasy Maker is available on Kindle, Nook or paperback at Amazon and Barnes and Noble websites.