79 Elizabeth Street - Full Rehab
City of Albany
In 2025, the Albany County Land Bank completed a full rehabilitation and renovation of the historic home located at 79 Elizabeth Street in the City of Albany’s South End.
The Land Bank acquired the property in June 2020, following a tax foreclosure by Albany County. The property has been available for sale “As Is” after obtaining a scope of work to complete repairs to the building, which did not include the significant amount of environmental mitigation that was ultimately required. It was listed for sale in July 2020 for $20,000. After multiple attempts to identify a buyer to complete the rehabilitation, the property was “banked for redevelopment” by the Land Bank in 2023.
In late 2024, the Land Bank opted to utilize support from the New York State Land Bank Initiative program to address this property and bring it back to productive use. The home, originally a single-family home that was converted to two, two-bedroom apartments, was restored to a single-family home with all electric utilities and modern features while preserving and restoring key historic features.
In October 2025, the full rehabilitation and restoration of this three-bedroom, two-and-a-half-bathroom home was complete. It was listed for sale for $199,000 with a seller’s credit at closing for a qualified first-time homebuyer.
Funding for this project was provided by New York State Homes and Community Renewal through the Land Bank Initiative program.