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237 Western Avenue, Albany, NY 12203

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For Sale

$2,589,000

1.62 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • 1.6 acres
    Lot size

Explore this Property

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.
MLS# 202518053

Courtesy Of Madison Park Real Estate

15182815336

Property Features

  • Architecture Style
    Other
  • Lot Size
    1.62 Acres

Map and Directions

Directions to 237 Western Avenue, Albany, NY 12203

Home seller CENTURY 21 Smith Branch

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CENTURY 21 Smith Branch

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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