285 Second St
Troy, NY 12180
Industrial Property For Sale

Property Overview
An exceptional opportunity awaits developers, investors, and visionaries with this rare historic factory building in the heart of South Central Troy. Rising four stories along the scenic Poestenkill Canal and just blocks from the Hudson River, this property has already undergone stabilization, gutting, and structural reinforcement—offering a strong foundation for its next chapter. With zoning approvals in place for a dynamic mixed-use redevelopment, the stage is set to transform this industrial relic into a thriving hub of modern living, working, and gathering.
Historic Character Meets Modern Potential
This factory building is more than brick and timber—it represents Troy’s storied industrial heritage and its exciting trajectory toward innovation and community-driven development. The property has been carefully prepared for adaptive reuse: gutted down to its core, structurally shored up, and primed for redevelopment. The heavy lifting has been done, saving future owners significant time, cost, and uncertainty. Its historic charm and robust construction are the perfect canvas for a project that blends character with contemporary design.
Approved Redevelopment Plans
The current owner has secured zoning approvals for an impressive mixed-use redevelopment that maximizes both the property’s potential and its community impact. Approved plans include:
Retail/Office Space – Ground-level storefronts or flexible workspaces designed to attract neighborhood services, boutique shops, creative studios, or professional offices. The combination of foot traffic and visibility ensures long-term leasing potential.
Residential Apartments – Upper floors envisioned for modern apartments that retain industrial-style character while offering light-filled, efficient, and comfortable living spaces.
Townhome Component – An additional residential townhome unit expands the development’s diversity and appeals to buyers or tenants seeking more private housing in an urban environment.
Parking – With 15 dedicated parking spaces included, the property stands apart from many urban redevelopment sites. Parking will be a key amenity for future residents, visitors, and retail patrons alike.
Location in Transition
South Central Troy is undergoing a remarkable transformation. Once defined by its manufacturing legacy, the district is now a focal point of the city’s investment in redevelopment, green spaces, and infrastructure upgrades. The property’s location along the Poestenkill Canal offers both historic resonance and future potential for a waterfront-inspired lifestyle. Within a short walk, the Hudson Riverfront is also seeing new vitality, with public access, cultural attractions, and development projects creating a strong foundation for growth. For developers, this means a supportive municipal environment, rising property values, and a growing demand for mixed-use communities that combine residential vibrancy with commercial opportunity. The timing for investment could not be better.
Troy: A City on the Rise
Long celebrated for its 19th-century architecture and industrial ingenuity, Troy has emerged as one of the Capital Region’s most dynamic urban centers. A destination for students, entrepreneurs, and creative professionals, Troy is home to Rensselaer Polytechnic Institute (RPI), Russell Sage College, tech startups, and a flourishing arts and dining scene. The city’s weekly farmers market, independent retailers, and growing roster of pubs and restaurants draw both residents and visitors.
South Central Troy, in particular, is becoming a vital extension of this energy, with city-backed projects aimed at reclaiming and repurposing its historic building stock. As new residents and businesses flock to the area, properties like this one—anchored by authenticity and positioned for reinvention—are in high demand.
Investment Highlights
Historic 4-story factory building with strong bones and structural reinforcement completed
Zoning approvals in place for mixed-use redevelopment (retail/office, apartments, townhome)
15 parking spaces included—rare in urban redevelopment
Prime location along Poestenkill Canal and near Hudson River
Neighborhood in transition with city-backed investments fueling redevelopment
Walkable urban setting with access to downtown Troy amenities, cultural venues, and educational institutions
Strong market demand for mixed-use spaces in Troy’s growing real estate sector
Vision for the Future
Imagine a ground floor activated with shops, cafés, or coworking spaces spilling light onto the sidewalks, while above, apartments with exposed brick and tall windows capture the blend of history and modern design that today’s renters crave. Residents enjoy convenient parking, easy access to the Hudson River, and proximity to downtown’s restaurants, theaters, and schools. A townhome component adds depth and dimension, appealing to families or professionals seeking a private residence with urban convenience.
This property offers the flexibility to tailor the redevelopment to market demand while already benefitting from zoning approvals that accelerate the process. Whether developed as a flagship project for a portfolio or held as a high-performing income asset, the potential for strong returns is clear.
Conclusion
Opportunities like this come once in a generation. This four-story historic factory, stabilized and ready for adaptive reuse, is not just a property—it is a statement piece in Troy’s unfolding story. Developers and investors who seize this moment will be contributing to the city’s revitalization while creating a landmark destination that blends heritage, innovation, and community.
Bring your vision to life on the banks of the Poestenkill Canal and be part of the movement reshaping Troy’s industrial past into its vibrant future.