Buffalo, N.Y. (WBEN) - In another sign he is scaling back on his Buffalo area real estate holdings, developer Douglas Jemal has sold his Delaware District for $2.75 million.
The deal is one of the largest residential real estate transactions this year, and already the 11th house this year to sell for more than $1 million.
And Jemal made a tidy profit with the sale.
The house was listed with a $2.5 million asking price and sold to 135 Notthingham LLC.
Jemal's two sons, Norman and Morris - the legal owners of record, paid $1.425 million for the five-bedroom 7,864-square-foot house at 135 Nottingham Terrace in April 2020.
That means in six years, the value of the circa-1932 era house, rose nearly 52%.
The 135 Nottingham Terrace house was the second on one of Buffalo's most opulent streets that Jemal had owned. He previously owned another Nottingham Terrace house that he bought in 2017.
Jemal, who has soured on Buffalo's political landscape, has been selling various real estate holdings including a former malt house on Niagara Street and, earlier this month, the Boulevard Mall in Amherst.
Jemal still has a significant Buffalo real estate portfolio including the 38-story Seneca One Tower, the Police apartment buildings and the Hyatt Regency hotel.
Earlier this week, Paul Millstein's Jemal's executive vice president, sold his Arygle Park house for $660,000.
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