Active
237 Western Avenue
Albany NY, 12203
$3,199,000
$45.33 per sqft
Active
1.62 Acres
Land
Listed for sale is The Lofts at Pine Hills, a fully approved development project located in the heart of Albany, NY. We are willing to offer creative financing and/or the owner is willing to hold a portion of the note. The project consists of 83 residential apartments, and two commercial spaces (5,563ft2)and has been fully approved by the City. The current owner has completed the leg work, and is now looking to exit with the hard work done. The project is construction ready, is fully approved and permitted, and we are open to different strategies to get to closing. Full financial pro-forma showing yearly income of $2,163,019 and professional appraisal showing a Stabilized Future Prospective Value of $29,500,00.
The approved development project comprises 105,610 gross ft2.
202328615
MLSⓇ ID
November 20, 2023
Listed
May 9, 2024
Updated
Map
237 Western Avenue
Albany NY, 12203
Exterior/Building Features
Lot Size
1.62 Acres
Sewer
Public Sewer
School Information
School District
Albany
High School
Albany
Other Property Details
Days on Market
70
Garage
No
View
No
County
Albany
Water Source
Public
Pool
No
Zoning
Mixed
Buyer Agency Compensation
2%
Listing History
Date | Event | Price |
---|---|---|
12/13/2023 | Price Change | $3,199,000 -2% |
12/8/2023 | Price Change | $3,250,000 -15% |
Courtesy of Madison Park Real Estate
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