Preeminent Properties in Historic Downtown Troy, NY Are for Sale for the First time in Decades
Investor Opportunity to Transform a Section of "New Brooklyn" into a thriving ‘Work Live Play' Environment
TROY, NY / ACCESSWIRE / February 20, 2024 / NAI Platform is excited to announce the availability of the historic Frear's Troy Cash Bazaar building, the adjacent Atrium building, and a vacant lot along the Hudson River. This portfolio represents the most iconic centrally located buildings at the entrance to historic downtown Troy, NY.
The portfolio consists of a 46,000 square-foot historically-significant office building that is nearly fully leased with hi-tech and professional tenants -- nationally renowned in their respective industries; an existing 73,000 square-foot, two-story building that can be redeveloped into a seven-story 250,000 square-foot structure; and, a cleared 1.66-acre lot that can also support a seven-story, 400,000 square foot development project. For sale at $13.25 million. Historic, Opportunity Zone, START-UP NY, and other tax credits are available to support redevelopment.
"Troy is open for business, and we look forward to working with any developer or business that wants to call Troy home," said Troy Mayor Carmella Mantello. "This city is on the verge of a major re-birth, and we encourage anyone interested in taking advantage of that to get on board with us now."
Developers that invest in downtown Troy will benefit from the city's reputation in attracting young, and young-at-heart highly educated residents. The talent coming from Rensselaer Polytechnic Institute (RPI), a "New-ivy" elite STEM university founded in 1824 in Troy has spawned and supported fast-growth companies in Troy and throughout the NYS Capital region such as Warner Brothers Gaming, Velan Studios, AMRI, WSP Global, Regeneron, GlobalFoundries among many others. For more economic development information go to: www.TroyCommercialRealEstate.com
About Troy, NY
A successful industrial city and home of the nation's Uncle Sam in the 1800s, it had an economy greater than NYC. Like many US cities, it experienced a downturn in the 1970s as residents and companies moved to the suburbs. Troy has been experiencing a major renaissance and is nicknamed "The New Brooklyn." Much of the 19th century architecture remains intact. As a result, Troy's brownstones, historic factory buildings, parks and streets are often used in well-recognized films such Martin Scorsese's The Age of Innocence, and most recently HBO's The Gilded Age. In fact, HBO will again transform Troy this year for a third season of this popular period series.
ABOUT NAI PLATFORM
Founded in 2008, NAI Platform has been involved in every aspect of industrial, retail, office, multi-family and adaptive reuse/development brokerage and consulting services in the Capital region and throughout Upstate New York as well as nationally and internationally through its affiliate NAI Global. The NAI Platform team of seventeen experienced commercial real estate specialists have been responsible for many of Upstate New York's most significant deals, building a remarkable track record of transactions with an approximate combined dollar value of $2.5 billion. NAI Platform is consistently ranked among the top three commercial real estate firms in the Capital Region: Albany, Rensselaer, Schenectady and Saratoga counties. www.naiplatform.com
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 325 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,800 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.
For more details about this offering, please contact:
Deanna Dal Pos
Real Estate Salesperson
Troy Market Specialist
M:+1 518 366 0920
O:+1 518 465 1400 ext. 225
ddalpos@naiplatform.com
TroyCommercialRealEstate.com
Anton Pasquill
Real Estate Salesperson
Commercial Specialist
M: +1 518 779 0107
anton@naiplatform.com
TheZoningGuy.com
Media Contacts:
Deanna Dal Pos, NAI Platform 518.366.0920 or ddalpos@naiplatform.com
Gary Marsh, Marsh Marketing 415.999.3793 or gary@marshmarketing.com
Lindsay Fierro, NAI Global 212.405.2474 or news@naiglobal.com
SOURCE: NAI Global
View the original press release on accesswire.com
