44 State St Albany, NY 12207

This iconic Albany property, located at 44 State Street, presents a unique investment opportunity. The 13,300 square foot building, constructed in 1913, boasts a rich history as a premier fine dining establishment for over a century. The turnkey restaurant features a 150-seat capacity, a fully equipped kitchen, and a transferable liquor license. Situated in the heart of downtown Albany, just steps from the New York State Capitol Building, this four-story building benefits from high visibility and proximity to numerous hotels and entertainment venues. The property sits on a 0.07-acre lot and is zoned MU-DT. Detailed concept plans are available for a seven-unit residential conversion of the upper floors, offering significant potential for future development and increased revenue streams. The building is fully sprinklered, adding to its safety and operational efficiency. The asking price is $1,399,000, with a land value of $2.16 per square foot. This exceptional property offers a blend of established income and exciting future development possibilities in a prime Albany location. The property's size and location make it an ideal investment for both seasoned and emerging developers. This is a rare chance to acquire a piece of Albany's history and shape its future.