UP REALTY has secured a $7.3 million construction loan for the conversion of an office building in Albany, N.Y. The 94,240 sqf building at 20 Park Street will feature 73 luxury rental units after its renovation is completed. Amenities in the new project include a rooftop deck, gym and on site parking. The funding was sourced by Eastern Union Funding with a two-year, $7.3 million loan with the Albany office of Community Preservation Corp. Construction is slated for completion by early summer.
