This historic four-story factory, built circa 1840, is one of $598,000

River Commercial For Sale

This historic four-story factory, built circa 1840, is one of South Central Troy's last remaining industrial landmarks awaiting redevelopment. Set along the Poestenkill Canal and just steps from the Hudson River, the property embodies the area's industrial heritage while offering prime potential for modern reuse. Encompassing approximately 38,876 square feet with 14+ foot ceiling heights, the building commands presence and flexibility for creative redevelopment. Structural stabilization is already complete, including masonry restoration, chimney repair, new roofing, and joist replacement engineered to support residential loads. The result is a sound shell that preserves historic character while enabling a variety of uses. Redevelopment approvals are in place for a mixed-use program that blends retail, residential, and townhome living. Plans include ground-floor commercial space, loft-style apartments on upper levels, a rear townhome residence, and 15 dedicated parking spacesprehensive site studies-traffic, grading, and slope stability-have been conducted, reducing risk and streamlining project execution. The property is strategically located within a district identified in Troy's Comprehensive Community Development Plan as a priority area for reinvestment. The city has launched significant initiatives that will transform the district into a vibrant mixed-use hub. Key projects include brownfield remediation at the former King Fuel site, relocation of the municipal salt storage facility, and completion of River Street extensions to create a continuous waterfront corridor. Together, these initiatives will unlock new housing, retail, and public space, increasing long-term value for surrounding properties. Troy itself has reemerged as a dynamic city in New York's Capital Region, anchored by institutions such as Rensselaer Polytechnic Institute and Russell Sage College. Its revitalized downtown is known for a nationally recognized farmers market, a thriving restaurant scene, and a walkable historic core that attracts students, professionals, and entrepreneurs. South Central Troy represents the next chapter of this momentum, offering investors and developers an opportunity to participate in the city's growth. For forward-thinking developers, this property offers the rare combination of historic scale, modern approvals, and municipal investment in the surrounding area. Whether developed into loft apartments, creative offices, boutique retail, or a signature mixed-use destination, it is well-positioned to deliver both near-term functionality and long-term appreciation. Highlights Four-story factory, c. 1840 ~38,876 SF with 14'+ ceiling heights Structural stabilization completed Approved plans for mixed-use: retail, apartments, townhome 15 dedicated parking spaces Located on Poestenkill Canal near Hudson River Within Troy's redevelopment corridor This is more than a building-it is a chance to shape the future of Troy while honoring its past.