Albany NY, July 10, 2025 – For immediate release
One of the largest privately-owned assemblages of under-utilized parcels along with seven brownstones in Downtown Albany are being offered For Sale. The ownership entity, Arrowhead Estates Inc., is comprised of members of the same Gerrity family that have interests in the Saratoga Racino and other casinos throughout the country. They have owned these properties for over 50 years.
Commonly known as Robinson Square, the seven buildings are all on the north side of Hamilton Street and the 65,000 +/- SF of contiguous land parcels (1.5 acres) currently used as a public parking lot are across the street. The site is adjacent to the 98-acre, 9,000,000+ SF Empire State Plaza and enjoys an amazing view of the Albany skyline.
The asking price is $4,950,000 for the packaged properties and there is pricing established for smaller sections of the portfolio. Based upon the dimensional standards that the MU-NE and R-M zoning districts allow, NAI Platform believes that up to 200 new housing units could be built with the proper layouts.
The location and availability for redevelopment of the Hamilton Street properties could be considered ground zero for a portion of the Governor’s new $400,000,000 commitment to revitalizing and increasing housing in downtown Albany. According to Mayor Kathy Sheehan, “As Empire State Development continues its work on identifying opportunities to incentivize private investment in Downtown Albany, this underutilized site holds tremendous potential to become part of the next exciting chapter in Albany’s history.”
The portfolio is exclusively listed by NAI Platform with Cory Tyksinski and Felton McLaughlin as the points of contact. 518.465.1400