147 Log City Rd, Amsterdam, NY 12010

Full Listing Description:

Empire Commercial exclusively presents Log City Village Phase III — a fully PUD-approved multifamily development site at 147 Log City Road in Amsterdam, New York, offered at $2,800,000 subject to a 30–45 day call for offers.

The 256-unit Planned Unit Development approval is in place. Phase III supports approximately 130 age-restricted senior units and 80–100 market-rate workforce family rental units — approximately 210 total doors — on a development-ready parcel with ~895 linear feet of frontage on the Route 30 corridor. All utilities are available at the road: water, sewer, electric, gas, and fiber. FEMA Zone X — no flood insurance required. 4.7 miles to I-90.

A March 2026 Limited Scope Market Study by Newmark Valuation & Advisory (Job #26-0247729) independently confirms demand for both programs. Weighted capture rates of 9.0% (senior, age 62+) and 9.9% (market-rate workforce family) are within HUD MAP, LIHTC, and conventional agency lender benchmarks. Senior comparables across the primary market area are averaging 98% occupancy with no concessions — Dutch Hollow absorbed 8 units per month; Carlton Hollow Senior is 100% occupied.

Eco Flats at Log City — Phase I of this same master plan, 168 market-rate apartments situated directly adjacent to the subject parcel — is actively leasing, having signed 24 leases since February 2026. Phase II (Gables at Log City, 80 luxury condominiums) is under active development. A Phase III buyer acquires within an established, active master-planned community — not a greenfield speculation.

Deal structure: as-is at $2,800,000 (~$13,333/door); seller may deliver fully engineered plans for additional consideration (~$3,325,000, ~$15,833/door); or bifurcated to a senior operator and a market-rate developer separately. Montgomery County IDA PILOT programs available. HUD MAP and agency financing eligible for the senior program.

Full deal package — Offering Memorandum, Newmark market study, PUD approvals, site plans, and utilities confirmation — available under NDA. Contact listing team to execute NDA and receive complete package.

Exclusively offered by: The Maddalone Team | Empire Commercial Sage Baltrusaitis | (248) 506-0477 | [email protected] Christopher Maddalone | (518) 376-6980 | [email protected]