85,357 - 45 Columbia Street, Albany, New York 12207
$5,500,000
Original List Price:
Property Type:MultiFamily
Status:Active
Days on the Market:
22 Bed|22 Bath| Half Bath|85,357 SQFT
Property Description
The Kennedy at 45 Columbia: +/-85,357 SF Mixed-Use Multifamily Property and Parking Garage. Twenty-two (22) market-rate residential apartment units. One hundred seventy (170) interior heated garage parking spaces. Located in the heart of Downtown Albany, New York. Surrounded by numerous hotels, restaurants, bars & entertainment options. Directly on a public bus line. Renovated in 2021. 100% occupied. 8.80% cap rate based on current income. Upside through conversion of a portion of existing parking garage space to additional residential units. Favorable 485-a real property tax exemption in place. Located in a Qualified Opportunity Zone. Priced to move at only $64 PSF.
