Drop in Station Douze valuation revealed in settlement agreement

BUFFALO, N.Y. — Station Twelve’s assessed value is seeing a reduction for 2024 — but it’s a far cry from the $14.67 million reduction requested by the site’s owner in the initial legal motion filed.

Northtown Property Owner LLC filed a petition in July 2023 in state Supreme Court in Erie County, alleging the city overvalued the Station Twelve properties by at least $14.67 million.

Plaza owner WS Development, through the LLC, said the parcels at 3151 Sheridan Drive and 3055-3105 Sheridan Drive have a combined assessed value that does not exceed $6.59 million. dollars. The city’s assessed value was $21.27 million, a difference of 69 percent, according to the petition.