Gibbons and Del Vecchio of Prudential Blake Atlantic rep. E&S Props. in $3.365m sale

The Knickerbocker Apartments, a five-story 91-unit apartment building located in the Center Square district of downtown Albany was recently sold for $3.365 million. 175 Jay Street, LLC a private apartment owner was the buyer. E&S Properties, Inc was the seller. E&S Properties was represented by Julie Gibbons and Michael Del Vecchio, associate brokers with Prudential Blake Atlantic, REALTORS of Albany. Financing was provided by Oritani Bank of N.J. The property contains 91 units and is a mix of studio and one-bedroom apartments. There is a library and laundry facility on-site. The building is over one hundred years old and was used as a warehouse for the brewing industry in Albany before being converted into a Women's Hotel and finally converted into apartments. Tenants include many New York state employees, graduate students and professionals who desire an urban location that is in close proximity to the state capital, entertainment and local eateries.