BLOCK 75 | UNIVERSITY AT ALBANY
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1475 Washington Avenue , Albany, NY
<p><strong>Block 75 is the closest, most convenient off-campus housing </strong>at The State University of New York - University at Albany, just a few minutes walk to campus. This <strong>Class A, student-only complex </strong>offers one-, two-, three- and four-bedroom units, each with in-unit laundry, a common lounge, and a kitchen/dining area. Composed of four floors with <strong>115 units </strong>and <strong>277 beds</strong>, Block 75 offers furnished apartments with <strong>each bedroom paired with its own bathroom</strong>. Units are outfitted with luxury finishes including granite countertops, wood-style flooring, and stainless steel appliances making a stylish living environment for students. Block 75 is currently 95% leased and is expected to remain at that level for the 2023-24 academic year.</p><p>Study lounges, a clubhouse offering premium Starbucks coffee, a game room, a <strong>fitness center</strong>, and <strong>bicycle storage </strong>are just some of the amenities offered to students at Block 75. The property is managed by Varsity Campus and has on-site management staff, <strong>after-hours patrol service</strong>, and a self-storage mail center. Additionally, Block 75 is pet friendly and has a <strong>limited-access parking garage.</strong></p><p>Block 75 is located within the <strong>Campus Area</strong>, the part of Albany that surrounds the University at Albany. This neighborhood heavily caters to students, commuters, and families, offering affordable apartments and houses for rent, with upscale options available as well. Residents enjoy the area’s <strong>proximity to Downtown Albany </strong>and its restaurants, retailers, parks, and entertainment. Campus Area is across Interstate-87 from Crossgates Mall, a sprawling shopping center with brand-name retailers, department stores, and more. <strong>Western Avenue </strong>is the neighborhood’s main thoroughfare and is lined with local restaurants, bars, and shops.</p><p>With its location and distance to the <strong>University at Albany </strong>being Block 75’s most significant competitive advantage, it is also encouraging that the University has seen <strong>upward-trending enrollment</strong> over the past few years. There is low competition in this area with only one other student housing property around the University and <strong>no new projects in the development pipeline</strong>. </p><p><strong>Block 75 is being offered with debt in place at an attractive rate, or it can be acquired free and clear.</strong></p>