Site work, paving and outdoor lighting for a mixed-use development in Menands, New York. Completed plans call for site work for a playground / park / athletic field; for outdoor lighting for a playground / park / athletic field; sidewalk / parking lot; and for paving for a sidewalk / parking lot.

https://www.bizjournals.com/albany/news/2025/03/25/james-street-building-sold-in-albany.html Mar 25, 2025 Three years ago, Dillon Nash saw what he considered a great opportunity to buy another commercial building in downtown Albany. The five-story building at 52 James St. is on Tricentennial Park between North Pearl Street and Broadway, across from the historic former train station, Peter D. Kiernan Plaza. At the time Nash bought the 22,000-square-foot building for $1.04 million, there were three commercial tenants, and a fourth that had just signed a lease. There was only one more floor to fill. The building, a former warehouse that had been converted years ago into offices, was in great condition. Nash — a commercial real estate investor with an office in New York City — was optimistic. But his feelings soured after he said he had to evict the new tenant after six months for not paying rent; two tenants left for separate reasons; and he wasn't able to fill the empty space with a couple of local, prospective tenants who seemed interested but never committed to a lease. "We had very little traction for renting it out for commercial use," Nash said. The only tenant that remains is Aramark Corp. He decided to put the property up for sale at a list price of $1.595 million through Adam Field, associate broker at Pyramid Brokerage Co./Cushman & Wakefield of Latham. Eight months later, a contract was signed. The deal closed last week. The sale price: $1.325 million. The $285,000 increase in value over the three years Nash owned the property was the only positive aspect of his experience. "Without the building appreciating that much, this would have been an utter failure," Nash said. Little public information was available about the buyer, an LLC with an address in Woodbury (Orange County) that has the same address as an accounting firm. Rudy Lynch, associate broker at Carrow Real Estate Services of Albany, said the buyer declined to comment. Commercial landlords have had a difficult time retaining or getting tenants in downtown Albany for various reasons. The average vacancy rate in the second half of 2024 increased to 14.8%, according to CBRE Upstate NY. Nash said the continued popularity of remote work and the cost/availability of parking were issues for him. The condition of Tricentennial Park across from the building didn't help, he said. Tricentennial Park 03252025 02expand A $1 million repair of Tricentennial Park in downtown Albany is expected to start this year. The park is located between James Street and Broadway. Donna Abbott-Vlahos | Albany Business Review "There were two massive sinkholes that were coned off," he said. "It was an eyesore and a safety liability for any person walking that area." He said it's taken the city longer than expected to fix the problems. Improvements to the park were approved as part of the 2024 city budget, according to David Galin, chief of staff for Mayor Kathy Sheehan. Design has been completed and construction will take place this year, a fairly typical timeline for a capital project of this scale, Galin said. The $1 million investment includes leveling the site and improving the drainage so it can be open year-round. The park has been closed during winter due to poor drainage, which causes water to pool and turn into ice. _______________________________________________________________ Reference Number 0000377389 The work includes providing all labor, materials, machinery, tools, equipment and other means of construction necessary and incidental to the completion of the work shown on the plans and described in these specifications including, but not necessarily limited to the following: Resurfacing the existing park Installation of new site lighting foundations New trees New benches Question Deadline 03/13/2025 at 12:00 PM ET Questions are submitted online No .Questions pertaining to the bid package should be directed to Bill Lecuyer, at 518-434-5490 or emailed to wlecuyer@albanyny.gov. All work is to be completed by on June 15, 2025 Each bid must be accompanied by a bid security in the amount of five percent of the base bid in accordance with the Instructions to Bidders. If a bid deposit is not submitted with the bid, the bid may be deemed incomplete and may not be considered The successful Bidder will be required to furnish construction performance and payment bonds in the full amount of the contract price. The Board of Contract and Supply reserves the right to reject any bid delivered after the date and time specified above. Owner reserves the right to reject any and all Bids, to waive any and all informalities and the right to disregard all nonconforming, non-responsive or Conditional Bids.