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Downtown Albany Market Update.pdf

Housing-Market-Analysis-Update.pdf

Preview of Downtown Albany Market Update

🔗 Source: capitalizealbany.com

📊 Size: 419 KB

👤 Author: Laurie Volk

⬇️ Downloads: 110

Summary

Zimmerman/Volk Associates updated the residential market potential for the Downtown Albany Study Area, finding that rents have increased by $10 to $200 per month since 2011, with some properties reaching over 30% increases. New developments have higher rents, such as Penta on Broadway with $895 to $2,695 per month, and The Gateway Apartments with $950 to $1,650 per month. Occupancy rates remain high, at 95-100%. For-sale properties have seen price drops, except for the Bentley Condominiums, which increased prices by 7-10%. The updated optimum market position for newly-developed market-rate residential units in the Study Area includes rent and price ranges for different housing types, such as hard lofts, soft lofts, luxury apartments, and upscale condominiums.

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Description

Zimmerman/Volk Associates updated the residential market potential for the Downtown Albany Study Area, finding that rents have increased by $10 to $200 per...

Technical Information

File Format: PDF
File Size: 419 KB
Pages: 16
Language: EN
Author: Laurie Volk
Total Downloads: 110
Last Updated: 1 week ago

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