705 Broadway Albany, NY 12207-2301
Property profile & analytics
705 Broadway Albany, NY 12207-2301
- Hotels
- 106,352 SF
- 1.24 lot acres
Property ID
US63-4101282
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Hotels
Property Details for 705 Broadway
- Year built
- 2020
- Lot size
- 1.24 lot acres
- Property size
- 106,352 SF
- Zone code
- C3
- Property type
- Hotels
- APN
- 010100 76.27-1-18.1
- APU
- 1010076271181
Description
This exceptional ±1.24-acre commercial land parcel in Albany, NY, presents a unique investment opportunity. Located at 705 Broadway, Albany, NY 12207, this property boasts full approvals for a substantial development project encompassing approximately 180,000 square feet. The approved plans include a six-story building featuring 134 residential units ranging from studios to two-bedroom apartments. In addition to the residential component, the project incorporates approximately 14,000 square feet of ground-floor commercial space, ideal for retail or office tenants. The development also includes plans for approximately 64 parking spaces, ensuring ample parking for residents and commercial tenants. The site benefits from its strategic location, offering excellent proximity to I-787 and the Albany Skyway, providing convenient access to major transportation arteries and a wide array of commercial establishments and amenities. Furthermore, the property is directly adjacent to the newly constructed Hyatt Place Albany, further enhancing its desirability and potential for success. A significant advantage is the availability of potential Brownfield tax credits, which may be transferable to the purchaser for additional consideration. The potential for tangible property credits is estimated at $9.6 million, offering a substantial financial incentive. This prime location, coupled with the approved plans and potential tax benefits, makes this a compelling investment opportunity for developers seeking a high-impact project in a thriving urban setting. Detailed plans and offering packages are available upon request.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $950,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $690,000
Market price range: $690k - $1.87M -
Alternative Use
- Use
- Estimation
- HOTEL/MOTEL
- $1,055,000 Current use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Albany
- State
- New York
- Longitude
- -73.748
- Latitude
- 42.6547
- CBSA code
- 10580
- CBSA name
- ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
$0.00
$500,000
$1,665,000
$2,165,000
-
$705,915
$2,350,699
$3,056,614
