1 Alice Ave Watervliet, NY 12189
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 1 Alice Ave
- Property type
- Commercial real estate
Description
This exceptional 36.26-acre parcel in the Town of Colonie, New York, presents a unique opportunity for large-scale residential development. The property, located at 1 Alice Avenue, Watervliet, NY 12189 (42.738047, -73.717265), boasts a fully approved Planned Development District (PDD) for 230 residential units. Phase 1 encompasses 140 units of active adult multifamily housing, designed as a three-story building with convenient full walk-out ground floor access. Phase 2 has approval for 90 units of assisted living, offering flexibility for conversion to additional active adult multifamily units if desired. The active adult living concept caters to the 55+ demographic seeking independent living with access to resort-style amenities, community programs, and convenient services. This prime location offers beautiful views of Rensselaer County and is conveniently situated near various amenities, adjacent to both single-family homes and existing multifamily residential complexes. The asking price for this fully approved land is $6,500,000. This presents a compelling investment opportunity in a thriving area with strong demand for senior living options. The property's strategic location and comprehensive approvals significantly reduce development timelines and risks, making it an attractive proposition for experienced developers.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Watervliet
- County
- Albany
- State
- New York
- Longitude
- -73.717265
- Latitude
- 42.738047
