Major Capital Region developers bid on decrepit Albany warehouse

Albany County is auctioning off the long-vacant 11-story building to recoup unpaid taxes

Tri-State /
Jun.June 16, 2021 04:25 PM
The Central Warehouse building in Albany (Google Maps)

The Central Warehouse building in Albany (Google Maps)

Two of the Capital Region’s biggest developers are angling for control of one of Albany’s biggest eyesores.

Albany-based Columbia Development and Schenectady-based Redburn Development partners have submitted a joint bid for the dilapidated Central Warehouse building, the Albany Business Review reported.

The county is auctioning the hulking 11-story concrete building, which has long stood vacant, to recoup about half a million dollars in unpaid property taxes owed by owner Evan Blum. The Columbia-Redburn bid is one of two received by the county, which isn’t disclosing details, prior to last Thursday’s deadline.

The auction proceeding has been temporarily placed on hold after Blum filed for Chapter 11 bankruptcy protection, the Albany Business Review reported this week.

Blum bought the 500,000-square-foot building in 2017 for $1 from Sunmark Federal Credit Union. The decaying building was originally a cold-storage facility built in the 1920s. Blum had planned to turn it into a gallery space for artists. [Albany Business Review] — Dennis Lynch


Related Articles

arrow_forward_ios
An environmental study found protected wildlife — including the turtles — at part of the development site (iStock)
Eastern box turtles and retired bank exec thwart Bedford housing project
Eastern box turtles and retired bank exec thwart Bedford housing project
Hudson officials question developer's request for millions in tax breaks
Hudson officials question developer’s request for millions in tax breaks
Hudson officials question developer’s request for millions in tax breaks
Work to resume on stalled White Plains apartment project
Work to resume on stalled White Plains apartment project
Work to resume on stalled White Plains apartment project
The estate in Cove Neck with Tatum O’Neal and John McEnroe (The Pesce & Lanzillotta Team, Getty)
Former Gold Coast estate of John McEnroe, Tatum O’Neal hits market
Former Gold Coast estate of John McEnroe, Tatum O’Neal hits market
104 Edgemere Street in Montauk
Little houses draw big interest in mansion-heavy Hamptons market
Little houses draw big interest in mansion-heavy Hamptons market
536 Montauk Highway (Douglas Elliman)
Land trust buys Shinnecock Nation burial ground in West Hampton
Land trust buys Shinnecock Nation burial ground in West Hampton
Nabisco factory in Fair Lawn, New Jersey (Google Maps)
Mondelēz taking bids for shuttered Nabisco factory in Fair Lawn
Mondelēz taking bids for shuttered Nabisco factory in Fair Lawn
258 Horsemill Lane in Southampton
Flurry of 8-figure deals highlight Hamptons sales in June
Flurry of 8-figure deals highlight Hamptons sales in June
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...