1 Bleecker Terrace
Albany, NY
As an exclusive agent, Cushman & Wakefield and Pyramid Brokerage Company are pleased to offer for sale a fee simple interest in Capitol Crossings, a 279-unit garden-style apartment community in Albany, NY. This value-add opportunity features a proven renovation program delivering ~40% rent premiums, with 71% of units already upgraded.
Set on 14.65 acres, the property offers a suburban feel with urban access, supported by amenities such as a fitness center, BBQ areas, and ample parking. Located near major highways and economic anchors, Capitol Crossings is well-positioned to benefit from Albany’s strong job market, growing tech sector, and over $4 billion in regional investment.
• Proven Value-Add: Renovated units command ~40% rent premiums
• Strong Occupancy: 97% leased with stable cash flow
• Recent CapEx: $800K+ in upgrades including plumbing, windows, and common areas
• Prime Location: Easy access to I-90, I-87, and I-787
• Economic Growth: $4B+ in regional investment; strong “Meds, Eds & Tech” employment base