Albaneseorg: Albanese Org mulling condo conversion of rent-stabilized 20 River Terrace

The Albanese Organization is considering converting a 293-unit rent-stabilized residential building in Battery Park City into condominiums. The developer filed a "test the market" application with the the New York State Attorney General's office earlier this month, allowing it to engage in basic marketing activities before deciding it wants to go through will a full conversion and public offering plan. The Solaire at 20 River Terrace has no active rental listings, according to StreetEasy. And [...]