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Posted: November 1, 2016
Lynch of Carrow Real Estate represents M&L Properties in $3.5 million sale
991 Broadway - Albany, NYAlbany, NY Rudy Lynch, CCIM, of Carrow Real Estate Services, LLC represented the seller, M&L Properties, LLC, in the $3.5 million transaction of a mixed-use redevelopment opportunity located in the city’s downtown warehouse district. The 173,000 s/f property on 3.5 acres is located at 991 Broadway. The building is home to Arnoff Moving and Storage who will be relocating their Capital District headquarters to Malta.
Rudy Lynch, Carrow Real Estate Services“We generated a tremendous amount of interest from both local and regional developers largely due to Downtown Albany’s increasingly hot residential apartment market and the property’s eligibility for Historic Tax Credits.” Lynch said.
The buyer was Nipper Apartments, LLC.
Additionally, Lynch represented Arnoff Moving and Storage on the purchasing their new Capital District Headquarters at 1 Racemark way in Malta for $6.175 million. Their new headquarters is a 72,000 s/f office/warehouse building on 39 acres. Gordon Heeps with Redmark Realty, LLC represented the seller, Yellowstone Holdings, LLC.
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