SOLD: Last Of Downtown Albany Luxury Condominiums

August 6, 2015

On Wednesday, August 5, Capitalize Albany Corporation, Albany Mayor Kathy Sheehan, The Rosenblum Companies, and the Downtown Albany Business Improvement District (BID) celebrated the sale of the last new condominium available at 17 Chapel Boutique Condominiums.

This event marked the end of a $9 million, 24-unit project that opened the door for other large-scale residential conversions within downtown, and served as a kick-off to the Downtown Residential Open House tour taking place August 7, 2015 at various locations in downtown Albany from 4:00 to 7:00 PM.

“We always believed in the potential of our downtowns so we went forward with 17 Chapel despite the challenging housing market conditions we faced early on. In no small part due to support from The City of Albany, Capitalize Albany Corporation, and the Downtown BID, we have realized our original vision of providing high quality metropolitan living in this dynamic, growing neighborhood,” said Rosenblum Companies CEO, Seth Rosenblum. “17 Chapel is about much more than one developer and one building.  Now there are hundreds of new downtown residential units and hundreds more in the pipeline. This demonstrates that the market is robust for a sustainable, walkable urban lifestyle in Albany. We are very proud to have been there at the start of this housing renaissance.”

“The Rosenblum Companies were visionary in their undertaking of these beautiful homes at 17 Chapel,” said Sarah Reginelli, president of Capitalize Albany Corporation. “Thanks to strong national trends, a powerful regional economy and local development leaders like the Rosenblums who built momentum and a foundation for growth, Downtown is primed to capture unprecedented market potential. With another 300-plus units in the proposal phase, we are on pace to bring at least 100 units online annually for the next decade to meet the ever growing demand for this vibrant, walkable neighborhood.”

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Times UnionAlbany BID to Celebrate Sale of Last 17 Chapel Condominium