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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 is a fully renovated 46-unit residential community with a historic background as a former brewery, now repositioned as a modern multifamily asset. The property combines preserved architectural character with updated interior systems and finishes.
The building offers a mix of 1-, 2-, and 3-bedroom apartments, each with unique layouts and architectural features.
Comprehensive interior renovations completed in 2023 include updated kitchens and bathrooms, stainless steel appliances, in-unit washer and dryer, new flooring, modern lighting, and updated finishes throughout.
The property is fully tenant-occupied, providing immediate income stability and operational continuity.
A rare opportunity to acquire a fully stabilized, large-scale multifamily asset with historic character and modern improvements.
Buyer to verify all information.
The building offers a mix of 1-, 2-, and 3-bedroom apartments, each with unique layouts and architectural features.
Comprehensive interior renovations completed in 2023 include updated kitchens and bathrooms, stainless steel appliances, in-unit washer and dryer, new flooring, modern lighting, and updated finishes throughout.
The property is fully tenant-occupied, providing immediate income stability and operational continuity.
A rare opportunity to acquire a fully stabilized, large-scale multifamily asset with historic character and modern improvements.
Buyer to verify all information.
Data Room Click Here to Access
- Operating and Financials
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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Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
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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