Old Warehouse considered for Potential Condos in Albany, NY

Written by The Business Review

Jeff Pfeil is confident there would be demand for apartments or condominiums inside an old warehouse in downtown Albany.

But he and his partners have to finish structural and environmental studies before buying the four-story building at 17 Chapel St.

"The market is there for the type of product we're going to do," said Pfeil, president of J.W. Pfeil & Co. Inc. in Saratoga Springs. "We're talking about approximately 20 units."

The 36,000-square-foot building is owned by Capital Repertory Co. and located between Chapel, Orange and Monroe streets.

Capital Rep, whose theater is a block away on North Pearl Street, uses part of the building for storage and student instruction.

Capital Rep bought the property in 2001 with the intention....

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