ALBANY—Now that plans and funding are in place for a convention center project here, hotel developers are reportedly showing interest in a vacant office building nearby.
In December, Gov. Andrew Cuomo approved plans for the $66.5-million Albany Capital Center at the corner of Eagle and Howard streets. Recently, hotel developers are studying 20 Park St., a four-story 95,000-square-foot office building located parallel to Eagle Street, according to the Albany Business Review.
"We have a lot of parties doing due diligence," says Rudy Lynch, associate broker at Carrow Real Estate Services LLC, which is marketing the property for sale for an asking price of $2.49 million for building owner EGL Realty Partnership LP.
Last September, 20 Park St. was put on the market along with several adjacent buildings—146 State St. and 150 State St.—but the package sparked little interest. Recently, it was decided to market 20 Park St. on its own.
Nearby, work is underway to convert the former DeWitt Clinton hotel at the corner of Eagle and State streets into a 204-room Renaissance by Marriott. See story in the Albany Business Review.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
