397 State Street & 94 Spring Street
Central Avenue - Downtown Albany
Albany | State Street Tower Apartments | 60 Units
| Type | Multifamily |
|---|---|
| Neighborhood | Central Avenue - Downtown Albany |
| Zoning Code | R2C |
| Size | 60,554 SF |
| Units | 60 |
Investment Highlights:
Meridian Investment Sales is pleased to present for sale State Street Tower Apartments located at 397 State Street and 94 Spring Street. Both buildings are connected by an internal
corridor. 397 State Street is a beautiful four story brownstone with 10 units and 94 Spring Street is a pre-war 12 story elevator building with 50 units located in the Washington Park / Central Avenue neighborhood of downtown Albany. The combined properties, with 60 units in 60,554 SF, were built in 1880 and 1925, respectively, and renovated in 1997. The properties benefit from beautiful views of Washington Park and proximity to Albany’s lively Lark Street. Building amenities include a video security system, on-site laundry, bike storage, fitness room and a shared courtyard space with benches and grills. Central Avenue offers its residents a friendly neighborhood with an urban feel.
In addition to being across the street from the historic Washington Park, State Street Tower Apartments is a short walk to the New York State Capitol and other government buildings, The Albany Institute of History & Art, Albany Medical Center, Russel Sage College and short drive to the University at Albany. Albany is located in the heart of New York’s Tech Valley which is a hub of technological companies and educational institutions that focus on life sciences, biotech and nanotechnology.
The Albany market offers investors a long-term investment horizon with the government, universities, colleges and hospitals serving stable anchors for the city.