99 Pine Street, Albany, NY 12207 For Sale

99 Pine Street is a bank-approved short sale offering a rare opportunity to acquire a fully renovated mixed-use property in downtown Albany at a significant discount. Located at the corner of Pine Street and North Pearl Street in the Capital Center district, this 101,730 SF historic building features 41 luxury residential apartments running at 86.4% occupancy with immediate cash flow, plus approximately 32,000 SF of vacant commercial space offering substantial upside potential.

Built circa 1880 and comprehensively renovated in 2017-18, the property showcases high-end finishes including granite countertops, mahogany cabinetry, stainless steel appliances, hardwood flooring, and VRF mini-split climate control. Building amenities include a rooftop terrace with Capitol views, private theater, fitness center, and dramatic multi-story skylit atrium. The location is irreplaceable - steps from the NYS State Capitol, Empire State Plaza, and Albany City Hall with a 96 Walk Score.

Priced at $4,450,000 on approximately $5M in debt, buyers can acquire over $7M of completed renovation at less than 65 cents on the dollar. The property offers multiple value-add paths: lease up vacant commercial suites for $365K/year in additional revenue, or convert select commercial space into 8+ additional residential units. Albany actively supports commercial-to-residential conversion, and infrastructure is already in place from the original renovation. Berkshire Bank is actively reviewing offers and prepared buyers with proof of funds can move quickly to close.