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.
Property Type(s):
Lot/Land/Acreage
|
Last Updated
|
5/23/2025
|
Tract
|
Pine Hills
|
|
Year Built
|
0
|
County
|
Albany
|
SCHOOLS
Additional Details
| LOT |
1.62 acre(s) |
| SEWER |
Public Sewer |
| SUBDIVISION |
Pine Hills |
| TAXES |
16203.81 |
| WATER |
Public |
Location
This listing courtesy of Madison Park Real Estate
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2025.
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