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282-332 Hamilton St 1.5 Acres of Commercial Land Offered at $4,250,000 in Albany, NY 12210

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Investment Highlights

Behind Empire State Plaza
Package Deal Available

Operating Parking Lot

Executive Summary

Large 1.5-acre development site in Albany's Center Square neighborhood across from Robinson Square and Empire State Plaza. Currently operating as a fully leased 210-car parking lot, but R-M and MU-NE zoning will allow for 4-story multi-family development. Dimensional standards in both zones should allow for approx 196 new multi-family units and sloping site should enable parking under the new structure(s). See attached spreadsheet detailing pro forma development potential. Parking lot parcels include 282-332 Hamilton, 136-144 S. Swan, and land-locked rear of 367 Madison. ***If bought as a package w/ 7 townhouses (293-301 Hamilton, 305-307 Hamilton, and rear parking 256-258 Hudson), the price for the parking lots is reduced to $4,000,000.

Hamilton Properties reduced

Property Facts

Price	$4,250,000	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Apartment Units Apartment Units - Condo Apartment Units - Dorms
No. Lots	1	Total Lot Size	1.33 AC
Property Type	Land	Cross Streets	S Swan St
Zoning	R-M and MU-NE - R-M and MU-NE

Price	$4,250,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Apartment Units Apartment Units - Condo Apartment Units - Dorms
Total Lot Size	1.33 AC
Cross Streets	S Swan St
Zoning	R-M and MU-NE - R-M and MU-NE

1 Lot Available

Lot

Price	$4,250,000	Lot Size	1.50 AC
Price Per AC	$2,833,333.33

Price	$4,250,000
Price Per AC	$2,833,333.33
Lot Size	1.50 AC

1.5-acre site in Albany’s Center Square across from Robinson Square & Empire State Plaza. Zoned for 4-story multi-family (approx. 196 units). Currently a 210-car lot. Discount offered if bundled with 7 nearby townhouses. See attached pro forma.

1 1

Walk Score®

Walker's Paradise (93)

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Property Taxes

Parcel Numbers	Multiple 010100-076-032-0003-026-000-0000 010100-076-032-0003-027-000-0000 010100-076-032-0003-029-000-0000 010100-076-032-0003-031-000-0000 010100-076-032-0003-018-000-0000 010100-076-032-0003-019-000-0000 010100-076-032-0003-021-000-0000 010100-076-032-0003-006-000-0000 010100-076-032-0003-007-000-0000 010100-076-032-0003-012-000-0000 010100-076-032-0003-013-000-0000 010100-076-032-0003-014-000-0000 010100-076-032-0003-024-000-0000 010100-076-032-0003-008-000-0000 010100-076-032-0003-011-000-0000 010100-076-032-0003-015-000-0000 010100-076-032-0003-016-000-0000 010100-076-032-0003-020-000-0000 010100-076-032-0003-022-000-0000 010100-076-032-0003-023-000-0000 010100-076-032-0003-030-000-0000 010100-076-032-0003-017-000-0000 010100-076-032-0003-025-000-0000 010100-076-032-0003-028-000-0000 010100-076-032-0003-009-000-0000 010100-076-032-0003-010-000-0000	Improvements Assessment	$1,252,400
Land Assessment	$749,000	Total Assessment	$2,001,400