A Rare Historic Property Investment in Albany: Restoring a Victorian Landmark at 93 Ten Broeck Street for $375,000

Opportunities to own and restore a historic property of this scale are increasingly rare, especially in culturally rich neighborhoods. Located in one of Albany’s most historically significant districts, 93 Ten Broeck Street offers an exceptional chance to reimagine a grand Victorian-era residence while preserving its architectural heritage.

Priced at $375,000, this expansive property spans approximately 5,800 square feet and includes more than 32 rooms, 22 bedrooms, and 9 full bathrooms. For investors, developers, or preservation enthusiasts, it presents a compelling project with remarkable potential.

Situated within the highly regarded Arbor Hill / Ten Broeck Triangle Historic District, the home is surrounded by a collection of beautifully preserved 19th-century buildings. This neighborhood is known for its rich architectural character and historical importance, making ownership here about more than just real estate—it’s about becoming part of a lasting legacy.

With over 5,800 square feet of interior space, this property stands out in today’s market for its sheer size and flexibility. Featuring 22 bedrooms and 9 bathrooms, it opens the door to a wide range of redevelopment possibilities.

Multi-unit residential housing
A boutique bed-and-breakfast or guesthouse
A large, restored single-family residence
Mixed-use development (subject to zoning and approvals)
The sale also includes 89 Ten Broeck Street, adding further value and opportunity. This additional parcel could be used for expansion, outdoor amenities, or complementary development depending on the buyer’s vision.

The property is currently zoned R-T (Residential Townhouse), allowing for one residential unit per floor, up to three units. This makes it especially appealing for investors seeking income-generating opportunities while maintaining the building’s historic charm.

Constructed during the Victorian era, the property reflects a time when craftsmanship and detail were central to architectural design. While the home requires full restoration, its original structure still holds the elegance and character typical of 19th-century construction.

Buyers can expect features such as:

High ceilings
Large windows for natural light
Spacious room layouts
Distinct architectural detailing
These elements provide an ideal foundation for a restoration that blends historic beauty with modern functionality. For those passionate about preservation, this is a rare chance to revive original design features while upgrading the property to meet today’s standards.

Financial Incentives and Historic Tax Credits
One of the most attractive aspects of this investment is its potential eligibility for the New York State Historic Tax Credit Program.

Because the property is located within a designated historic district and falls under a Historic Resources Overlay, qualified renovations may benefit from significant tax credits. These incentives can substantially offset restoration costs, making the project more financially feasible.

For experienced developers and investors familiar with historic properties, these tax advantages can improve both short-term project viability and long-term return on investment.

Prime Location in Albany’s Growing Market
Albany, as the capital of New York State, offers a unique combination of historic charm and modern development. The Ten Broeck Triangle area has seen increasing attention in recent years due to revitalization efforts and community investment.

Restoring a property in this neighborhood offers several advantages:

Proximity to downtown Albany
Access to government offices and institutions
Nearby restaurants, shops, and cultural attractions
Growing property values in revitalizing areas
The inclusion of off-street parking further enhances the property’s appeal, particularly in a historic urban setting where parking can be limited.

This property is not move-in ready—it requires a full-scale renovation. However, for buyers with the right vision and resources, it offers extraordinary potential.

Possible development strategies include:

Creating upscale rental apartments
Converting into condominiums
Designing a boutique hospitality concept
Restoring as a grand private residence
The combination of size, location, and historic designation allows for creative and flexible use of the space.

Important Considerations Before Investing
While the opportunity is significant, buyers should carefully consider the scope of the project. A property of this size and age will likely require:

Structural improvements
Updated plumbing and electrical systems
Interior restoration and modernization
Compliance with historic preservation guidelines
Working within a historic district may involve additional regulations that influence design decisions and timelines. However, these guidelines also help maintain the neighborhood’s character and often contribute to long-term value appreciation.

A Unique Chance to Restore History
Properties like 93 Ten Broeck Street are more than just investments—they are pieces of history waiting to be revived. With over 32 rooms, 22 bedrooms, and 9 bathrooms, the scale alone makes it a standout opportunity.

When combined with:

Historic tax credit eligibility
A desirable and evolving location
Additional land included in the sale
…it becomes clear that this is a rare offering in today’s market.

Final Thoughts: A High-Potential Historic Investment
At $375,000, this Albany property represents a unique intersection of history, architecture, and investment potential. While it requires significant work, the rewards can be substantial for those prepared to take on the challenge.

For investors, developers, or preservationists seeking a meaningful and potentially profitable project, this Victorian-era property offers a chance to create something truly special—honoring the past while building for the future.

In the right hands, 93 Ten Broeck Street could once again become a landmark—this time as a fully restored masterpiece.