625 Broadway — Sale in Albany, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Albany, NY 12204
  • Size: 33,871 SF

Description

JLL, as exclusive advisor, is pleased to present for sale 625 Broadway (the “Property”) – a 231-unit, 100% market-rate multi-housing investment opportunity with upside located in Downtown San Diego, California. Completed in 1926 and once the tallest skyscraper in San Diego, 625 Broadway has been a landmark of San Diego’s skyline for nearly a century. The historic character of the Property is encapsulated by an ornate façade, terra-cotta-cast ornamentation, medallion-sculptures, clock tower, and more. The interior of the Property has been completely reimagined as part of a $80M renovation completed in 2019 resulting in unique lofts-style units. Residents of 625 Broadway benefit from unrivaled connectivity to Downtown’s premiere entertainment options and top employers earning the Property a perfect 100 WalkScore. The offering also includes 33,871 SF of ground floor retail space, as well as a 378-space parking garage situated on a separate ±0.46-acre parcel that offers redevelopment potential. Additionally, 625 Broadway benefits from flexible base zoning that allows for a variety of by-right uses, and up to a 14x FAR. 625 Broadway represents an excellent opportunity for an investor to acquire a unique, high-performing multi-housing asset at a significant discount to replacement cost in the most resilient Downtown market on the West Coast.

Market Context

This commercial property in Albany, NY is listed for sale across 33,871 SF. It has been on the market for 81 days. Compare it against other commercial property listings for sale in Albany, NY — view the full market.

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