282-332 Hamilton St @ S Swan St
Albany, NY 12210 Center Square

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.