For the first time in their lives, Terry and Kim Pegula have acquired a house in Western New York.
Former Buffalo Crushed Stone owner Richard E. Garman sold his 57-acre Aurora estate to the Buffalo Bills and Sabres’ East Property Management. There was a $2.5 million payment to Garman’s estate for the purchase.
Five bedrooms, six bathrooms, a patio, a garage with attached four-car, and an unfinished basement are among the features of the 11,159-square-foot brick mansion on Mill Road.
Garman purchased the site for $510,000 in 1995 and erected a two-story residence on it in 1997.
The estate manager, Melissa Baumgart of RP Oak Hill Building Co., refused to comment.
We were unable to reach the Pegulas for comment, despite the fact that they have extensive real estate holdings in Buffalo and their roots in New York and Pennsylvania.
Since moving to Hilton Head, the pair has lived in Orchard Park and Vestal. It was purchased from the estate of Richard Garman by S.C. Terry and Kim Pegula.
The Pegulas, who bought the Buffalo Sabres for $189 million in 2011 and the Buffalo Bills for $1.4 billion in 2014, have just made their most personal Western New York real estate purchase yet.
Along with HarborCenter (a $200 million development next to the KeyBank Center), they also purchased the former Hi-Temp Fabrication building at 79 Perry St., next to the Sabres’ arena.
As a result of the renovations, Labatt USA’s new headquarters and the upcoming John Labatt House brewpub will be housed in this structure.
Additionally, in addition to their stakes in the gas and oil exploration industry through Pegula Sports & Entertainment, their investment and holding company for all of their operations, they also have a country music label and a sports representation agency on their books.
Where do Kim and Terry Pegula Live?
Kim and Terry Pegula live in Boca Raton, Florida.