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Hinckel Brewery Apartments 201 Park Ave 46 Unit Apartment Building $9,200,000 ($200,000/Unit) 7.07% Cap Rate Albany, NY 12202
Executive Summary
201 Park — A Rare Opportunity to Own a Piece of Local History
Once a historic brewery and now a fully modernized 46-unit residential community, 201 Park offers the perfect blend of preserved character and contemporary comfort. This is a unique investment opportunity to acquire a one-of-a-kind property with strong tenant appeal and long-term value.
Featuring a mix of 1-, 2-, and 3-bedroom apartments, each unit has its own distinct layout and architectural charm, making every residence truly unique.
Renovated in 2023, all units include:
• Stainless steel appliances
• Brand-new kitchens and bathrooms
• In-unit washer and dryer
• Updated flooring, lighting, and finishes throughout
The property is fully tenant-occupied, offering immediate cash flow and stability — perfect for investors seeking a turnkey, income-producing asset.
Historic soul. Modern renovations. Strong tenancy. A rare chance to own a remarkable piece of the city’s past and future — only at 201 Park.
Once a historic brewery and now a fully modernized 46-unit residential community, 201 Park offers the perfect blend of preserved character and contemporary comfort. This is a unique investment opportunity to acquire a one-of-a-kind property with strong tenant appeal and long-term value.
Featuring a mix of 1-, 2-, and 3-bedroom apartments, each unit has its own distinct layout and architectural charm, making every residence truly unique.
Renovated in 2023, all units include:
• Stainless steel appliances
• Brand-new kitchens and bathrooms
• In-unit washer and dryer
• Updated flooring, lighting, and finishes throughout
The property is fully tenant-occupied, offering immediate cash flow and stability — perfect for investors seeking a turnkey, income-producing asset.
Historic soul. Modern renovations. Strong tenancy. A rare chance to own a remarkable piece of the city’s past and future — only at 201 Park.
Property Facts
| Price | $9,200,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.96 AC |
| Cap Rate | 7.07% | Building Size | 90,386 SF |
| No. Units | 46 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 5 |
| Property Subtype | Apartment | Year Built/Renovated | 1850/2023 |
| Zoning | R2C | ||
| Price | $9,200,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 7.07% |
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 1.96 AC |
| Building Size | 90,386 SF |
| Average Occupancy | 95% |
| No. Stories | 5 |
| Year Built/Renovated | 1850/2023 |
| Zoning | R2C |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Yard
- Double Pane Windows
- Wheelchair Accessible (Rooms)
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Vintage Building
- Smoke Detector
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Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Number | 010100-076-039-0003-013-000-0000 | Improvements Assessment | $3,283,700 |
| Land Assessment | $693,000 | Total Assessment | $3,976,700 |
Property Taxes
Parcel Number
010100-076-039-0003-013-000-0000
Land Assessment
$693,000
Improvements Assessment
$3,283,700
Total Assessment
$3,976,700
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Hinckel Brewery Apartments | 201 Park Ave
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