Local & State Headlines

Studl properties listed on eBay

Barbara Rivera Holmes

ALBANY — Peter Studl said he isn’t necessarily looking to unload his downtown Albany portfolio, listed on eBay for $12.5 million. Rather, he said Tuesday, the ad is an effort at promoting the city and spurring growth.

“It’s an ongoing process,” he said. “I also ran an ad last month, not only from the real estate side but to become ... users of space, tenants, but more (so) entrepreneurs who want to get involved with starting businesses, more in the family/children’s sector to downtown.

Studl, whose classified listing on eBay is for 25 downtown properties with a combined 250,000 square feet of space, said he’s open to joint ventures with the properties.

“It’s intended for open discussion,” said Studl. “I don’t expect someone to bid as they would for buying a refrigerator.

“It’s really to get exposure for Albany and see if there is interest. Who knows, right? We’re sending a message that there’s an opportunity for development.”

The one-month ad, which began running on April 8, has generated a few calls, Studl said. Unlike auction listings on eBay, a classified ad doesn’t present the opportunity for bidding.

“There are no appointments yet,” he said. “These things take time. A week isn’t very long to have someone do some outside due diligence to have someone get involved in the specifics of the portfolio.”

That portfolio, he said, includes properties such as the Exchange building and the old Belk’s department store.

“Hopefully,” he said, “we’ll get a sale or the right kind of developers joining forces.”

More Headlines>>