237 Western Ave, is 1.6+ acres of land located in the heart of Albany's Pine Hills neighborhood, located 0.2 miles from SUNY Albany's Downtown Campus. There have been 3 projects imagined by the current owner w/unit counts of 86, 99 and finally 145 units, with a mix of ground level commercial units, and residential units above. All projected builds include surface parking. The owner is willing to hold the note or JV w/a seasoned developer. Demo of 13 structures and Phase 1 Environmental are completed. The land is shovel ready with all architectural drawings, engineering reports, construction drawings & building permits in place before listing for sale. Details of most recently envisioned project; Full financial pro-forma showing yearly income of $2,401,963 and a Stabilized Value of $37.4m.
Active
$2,589,000
237 Western Avenue, Albany, NY 12203
--beds
0baths
1.62Acres
Mixed Use, Unimproved Land
Built in ----
1.62 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Building permits in place
- 87 days
- on Zillow |
- 285 |
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