Albany Specialty for Sale - Albany CBD
NAI Platform is pleased to present the one-of-a-kind opportunity of acquiring the former St. Joseph’s Church in the heart of Albany’s Central Business District for a premier redevelopment acquisition. The specialty site can cater to the permitted uses of a 1-3 unit dwelling, multifamily dwelling, community residential facility, club, community center, cultural facility, day-care center, religious institution, beauty salon, spa or barbershop, professional office, specialty retail conditional uses: assisted living facility or nursing home, group living, higher education institute, hospital, school, restaurant, bed-and-breakfast, general office, personal or business service, indoor recreation or entertainment. This is a city-owned property; recent re-zoning and now listing demonstrates a willingness on the part of the city to welcome development. Schedule a tour today to see this beautiful historic property stabilized by municipal authorities.
This historic redevelopment opportunity is in the top-market urban core. It is within walking distance of the Palace Theater, Capital Rep Theater, Upstate Concert Hall, Riverfront Park, and all of the downtown Albany and State government buildings.
There is a high potential for federal and state funding, including Historic tax credits, the Downtown Revitalization Initiative (DRI), and the Community and Development Block Grant (CDBG).
All potential buyers are to undergo formal application review by the owning/governing municipality. Applicants must illustrate intent and demonstrate experience, financial capability, and site use feasibility.
