Ellicott Development buys CTG's Delaware Avenue building
Summary
Fourteen months after putting it up for sale, Computer Task Group has sold its secondary office building on Delaware to Ellicott Development Co.s 4628 Group Inc. Ellicott, owned by Carl and William Paladino, paid $1.8 million on Friday to acquire the administrative facility at 685 and 700 Delaware Ave. Built in 1957, the red-brick building has three floors, and is located a block away from CTGs primary headquarters in the former Knox Mansion at 800 Delaware. At the time, officials were seeking to capitalize on the burgeoning real estate market in Buffalo while consolidating the companys workforce into a single building somewhere else to lower expenses after reporting two quarterly losses amid falling revenues. Knox Co. five-and-dime stores and later served as vice president of Woolworth Co. and chairman of the board of Marine Trust Co., later HSBC Bank USA. Designed by prominent architect Charles Pierrepont H. Gilbert and constructed at a cost of $600,000, the French Renaissance-style house originally had 25 rooms, and is about 48,000 square feet.