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328 Western Ave. sold

April 8, 2015

by Alexander Horton

The 10-unit apartment building at 328 Western Ave. was sold by Hyjink LLC to the Promontory Capital 1 LLC for $500,000. Both Dennis Brown from Real Property Tax Service an Albany County agency and the Albany County Clerks office confirmed the selling price.

#328 Western Ave./ Alexander Horton

#328 Western Ave./ Alexander Horton

Attempts to reach Hyjinx LLC for comments were unsuccessful. A representative from Promontory Capital 1 LLC, located at 25 Aster Drive in Rexford, according to the city assessment rolls, could not be reached for comment.

The property was listed in September of 2014, about the same time a jury found a local man guilty or murder in connection with a tenant in that building. At the time of the murder in December 2013, several mentally ill individuals were living in that building.  Oscar Valcarcel was convicted of murder last fall in the stabbing death of tenant Caleb Capen who was alleged killed in a robbery attempt.  Valcarcel was convicted and sentenced to 25 years to life in prison. Both Capen and Valcarcel were being treated by for mental illness by Equinox, which is a not-for-profit agency that helps provide housing, outpatient clinics and recovery oriented services. Another incident also occurred in connection with one of the building’s tenants when Anthony Collins was convicted for attempted kidnapping in October of 2013  and was later sentenced to 12 years in prison.

According to the 2014 tax rolls from the Albany County Office of Assessment and Taxation the property was assessed at $319,722. According to Prudential  Real Estate agent Melissa Herms, a potential buyer had made an offer of $499,000 in September to buy the property.  The apartment’s property listing from the Albany County Department of Assessment and Taxation said the building has an annual income of $83,000 under previous ownership. -30-

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