Albany Center Square Apartment Building Changes Hands for $1.55 Million

September 24, 2026 - 18:10

A 13-unit apartment building in Albany's Center Square neighborhood has been sold for $1.55 million. The buyer, DRM Property Development LLC, purchased the property from the DeThomasis brothers, according to records filed with the county.

The building sits in one of Albany's most historic and walkable districts, an area known for its 19th century rowhouses, tree-lined streets, and proximity to restaurants, shops, and the state capitol complex. Center Square has long drawn interest from investors because of steady rental demand and limited inventory of multifamily properties.

The sale price works out to roughly $119,000 per unit, a figure that reflects the strong valuations seen in Albany's core neighborhoods in recent years. Deals of this size are common in Center Square, where older buildings frequently trade between local investors and regional development firms.

DRM Property Development LLC has not announced specific plans for the property. The transaction was recorded in public real estate filings. Neither the buyer nor the seller issued a public statement about the deal.