A Rare Historic Investment Opportunity in Albany – Restoring Grandeur at 93 Ten Broeck Street
Opportunities like this don’t come around often. Located in one of Albany’s most historically rich neighborhoods, 93 Ten Broeck Street presents a truly unique chance to restore and reimagine a grand 19th-century Victorian-era property.
Priced at $375,000, this expansive 5,800-square-foot building, featuring more than 32 rooms, 22 bedrooms, and 9 full bathrooms, is a dream project for investors, preservationists, or developers looking to bring new life to a piece of history.
Set within the prestigious Arbor Hill / Ten Broeck Triangle Historic District, the property is surrounded by architectural beauty and cultural significance. This district is known for its stunning collection of 19th-century homes, many of which reflect the elegance and craftsmanship of a bygone era.
Owning a property here is not just about real estate—it’s about becoming part of a historic legacy.
A Grand Structure with Endless Potential
At over 5,800 square feet, this building offers a scale that is rarely found in today’s market. With 22 bedrooms and 9 bathrooms, the property opens the door to a wide range of redevelopment possibilities.
Whether envisioned as a multi-unit residential property, a boutique lodging concept, or a restored single grand residence, the size and layout provide unmatched flexibility.
The property also includes 89 Ten Broeck Street in the sale, further enhancing its value and potential. This added parcel could be used for expansion, additional development, or outdoor space—depending on the buyer’s vision.
Currently classified under R-T zoning (Residential Townhouse), the structure allows for one unit per floor, up to three residential units. This makes it especially attractive for investors seeking to create income-generating properties while preserving historic character.
Historic Design and Architectural Significance
Built during the Victorian era, the home reflects a time when architecture emphasized detail, craftsmanship, and elegance. Though it now requires a full restoration, the bones of the building still carry the charm and grandeur typical of 19th-century construction.
High ceilings, large windows, and expansive room layouts are likely to be found throughout the structure. These features not only enhance natural light and airflow but also provide the perfect foundation for a high-end restoration project.
For those passionate about historic preservation, this property offers the rare chance to revive original design elements while incorporating modern amenities. The result could be a truly one-of-a-kind residence or investment property that blends old-world beauty with contemporary comfort.
Financial Incentives and Tax Benefits
One of the most compelling aspects of this opportunity is its eligibility for New York State Historic Tax Credit Program.
Because the property is located within a designated historic district and falls under the Historic Resources Overlay, buyers may qualify for significant tax credits when restoring the building according to preservation guidelines.
These incentives can dramatically reduce renovation costs, making what might initially seem like a large investment far more feasible. For developers experienced in historic projects, this is a major advantage that can improve both short-term feasibility and long-term returns.
A Prime Location with Growing Appeal
Albany, the capital of New York State, offers a blend of historic charm and modern growth. The Ten Broeck Triangle area, in particular, has been gaining attention for revitalization efforts and community investment.
Restoring a property in this neighborhood not only contributes to preserving its heritage but also positions the owner to benefit from increasing property values over time.
The location provides easy access to downtown Albany, government offices, cultural institutions, restaurants, and entertainment. This makes it ideal for residential use, whether as rental units or owner-occupied spaces.
Additionally, the property includes off-street parking, a valuable feature in a historic urban setting where parking can often be limited.
Ideal for Visionary Buyers
This is not a turnkey property—it is a project that requires vision, resources, and dedication. However, for the right buyer, the rewards can be extraordinary.
Developers may see the potential to create high-end rental units or condominiums. Preservationists may envision restoring the property to its former glory as a single grand residence. Entrepreneurs might explore boutique hospitality concepts, such as a bed-and-breakfast or event space.
The sheer size of the building, combined with its historic designation and prime location, allows for creativity in how the space is used.
Challenges to Consider
While the opportunity is significant, it’s important to acknowledge the scope of the work involved. A property of this size and age will likely require substantial renovation, including structural updates, modern plumbing and electrical systems, and interior restoration.
Working within a historic district also means adhering to certain guidelines and regulations, which can affect design choices and timelines. However, these same restrictions help preserve the neighborhood’s character and often increase long-term property value.
For buyers prepared to take on a major project, these challenges are part of what makes the final result so rewarding.
A Chance to Make History
Properties like 93 Ten Broeck Street are more than just real estate—they are pieces of history waiting to be rediscovered. Restoring this Victorian-era building is an opportunity to honor its past while shaping its future.
With 22 bedrooms, 9 bathrooms, and over 32 rooms, the possibilities are vast. Add in the benefits of historic tax credits, a desirable location, and the inclusion of an additional property, and it becomes clear that this is a rare find.
Final Thoughts
At $375,000, this property represents a unique intersection of history, investment potential, and creative opportunity. It is not for the faint of heart, but for those with the vision and means to restore it, the payoff could be substantial—both financially and personally.
FROM ZILLOW