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Brokerage
Posted: April 7, 2014
McLaughlin of NAI Platform reps Winn Development in $2.5 million sale; Metzger of T.L. Metzger & Associates reps the seller
NAI Platform represented the developer who has purchased the former Philip Livingston School, located at 315 Northern Blvd., from the Albany City School District. The 250,000 s/f former school sits on 10 acres and was purchased by Winn Development of Boston. for $2.5 million. Felton McLaughlin of NAI Platform represented the buyer and Tracy Metzger of T.L. Metzger & Associates LLC represented the seller.
Built in 1932 as the city was expanding its school system, the Beaux Arts masterpiece with its green copper cupola dominates the skyline in its neighborhood. It is soon to be listed on the National Historic Register and Winn plans to convert the building into 103 senior housing units with all residents being age 55+.
"Felton McLaughlin was an invaluable resource to us in our search for historic properties to rehabilitate and I look forward to working with him on other locations. We are actively seeking to purchase multifamily properties in the Capital Region in the 100-300 unit range," said Rachel Edwards, vice president acquisitions, Winn Development.
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