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Albany IDA Project Index

99 Pine Street

Project Number: 01011601

Project Address: 55 North Pearl Street

Applicant Name: 99 Pine Street of Albany, LLC

Owner(s): Christopher Maddalone, Seth Meltzer

Developer: Maddalone & Associates

Project Description:

The project consists of the acquisition of an approximately 100,000 SF commercial office building known as the Capital Center located at the corner of North Pearl and Pine Streets, along with the partial renovation/conversion the property’s third, fourth and fifth floors into approximately 35 market-rate residential units.

Approval Date: 02/29/2016

Estimated Net Benefit to Local Taxing Jurisdictions (PILOT): No PILOT

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

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