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EASTERN CONSOLIDATED ARRANGES $34.5M SALE OF OFFICE TOWER

ALBANY, N.Y. — Eastern Consolidated has arranged the off-market sale of 677 Broadway in Albany. Shelbourne Capitol LLC purchased the 180,000-square-foot office tower for $34.5 million, in a two-part transaction that included a $1.5 million land lease and the $33 million leasehold on the property. The 12-story, Class A office property features a 900-car parking garage owned by the City of Albany Parking Authority, a redundant fiber service, a Building Management System (BMS) to monitor all building and tenant HVAC equipment, an uninterrupted power source system and an emergency generator. Gabriel Saffioti and Nicole Rabinowitsch of Eastern Consolidated represented the buyer, while Ben Tapper and Michael Coghill, also of Eastern Consolidated, represented the seller, Albany-based Columbia 667 LLC, in the transaction.

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