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Albany IDA Project Index

40 Steuben LLC

Project Number: 01011405

Project Address: 58 North Pearl Street

Applicant Name: 40 Steuben LLC

Owner(s): Mark Rosen, I. David Swawite, Mark L. Aronowitz

Developer: Omni Development

Project Description:

The project consists of the conversion of a vacant six-story, 47,300 SF mixed-use retail and commercial office building into mixed-use retail and residential. The project will include 26 residential rental units (floors 2 - 5) with one and two bedroom units. The first floor will include over 2,600 SF of rentable commercial space that could accommodate up to two potential commercial tenants.

Approval Date: 01/23/2014

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): $148,753

Estimated Employment Impact: 15 construction jobs and 3 full-time equivalent jobs created, 0 full-time equivalent retained

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