38 Ten Broeck st - St. Joseph's Church 17,520 SF Specialty Building Offered at $100,000 in Albany, NY 12210
INVESTMENT HIGHLIGHTS
- 17,500-square-foot former St. Joseph’s Church currently offering flexible floorplans, iconic windows, and ceiling structures.
- Historic 19th-century church, part of Albany’s skyline, primed for redevelopment in a part of the city that has seen positive change and growth.
- Within Albany, New York’s Central Business District and Opportunity Zone, further enhancing the redevelopment of the historic building.
- Of the asset’s surrounding five miles, there is a spending power of $2.2B, approximately 183,767 residents, and an average income shy of $90K.
EXECUTIVE SUMMARY
NAI Platform is pleased to present the one-of-a-kind opportunity of acquiring the former St. Joseph’s Church in the heart of Albany’s Central Business District for a premier redevelopment acquisition. The specialty site can cater to the permitted uses of a 1-3 unit dwelling, multifamily dwelling, community residential facility, club, community center, cultural facility, day-care center, religious institution, beauty salon, spa or barbershop, professional office, specialty retail conditional uses: assisted living facility or nursing home, group living, higher education institute, hospital, school, restaurant, bed-and-breakfast, general office, personal or business service, indoor recreation or entertainment. This is a city-owned property; recent re-zoning and now listing demonstrates a willingness on the part of the city to welcome development. Schedule a tour today to see this beautiful historic property stabilized by municipal authorities.
This historic redevelopment opportunity is in the top-market urban core. It is within walking distance of the Palace Theater, Capital Rep Theater, Upstate Concert Hall, Riverfront Park, and all of the downtown Albany and State government buildings.
There is a high potential for federal and state funding, including Historic tax credits, the Downtown Revitalization Initiative (DRI), and the Community and Development Block Grant (CDBG).
All potential buyers are to undergo formal application review by the owning/governing municipality. Applicants must illustrate intent and demonstrate experience, financial capability, and site use feasibility.
This historic redevelopment opportunity is in the top-market urban core. It is within walking distance of the Palace Theater, Capital Rep Theater, Upstate Concert Hall, Riverfront Park, and all of the downtown Albany and State government buildings.
There is a high potential for federal and state funding, including Historic tax credits, the Downtown Revitalization Initiative (DRI), and the Community and Development Block Grant (CDBG).
All potential buyers are to undergo formal application review by the owning/governing municipality. Applicants must illustrate intent and demonstrate experience, financial capability, and site use feasibility.
PROPERTY FACTS
| Price | $100,000 |
| Price Per SF | $5.71 |
| Sale Type | Owner User |
| Sale Condition | Redevelopment Project |
| Property Type | Specialty |
| Property Subtype | Religious Facility |
| Building Class | B |
| Lot Size | 0.83 AC |
| Building Size | 17,520 SF |
| No. Stories | 2 |
| Year Built | 1861 |
| Opportunity Zone |
Yes |
1 of 1
Walk Score®
Very Walkable (74)
Transit Score®
Excellent Transit (70)
PROPERTY TAXES
| Parcel Number | 010100-065-082-0001-014-000-0000 | Improvements Assessment | $3,817,545 |
| Land Assessment | $52,000 | Total Assessment | $3,869,545 |
