In the Q2 2023 data there are nearly 800 unique Owner names that own Vacant buildings, 65 of whom own more than one Vacant building. The Albany County Land Bank Corp is the largest owner (by count) with 47 Vacant buildings.
Other multi-Vacant building owners included as of Q2 2023:
- South End Development Llc - 6 buildings
- 44 HOLLAND AVENUE LLC - 5
- Power,Love & Sound Mind Dev. - 4
- Kostandin Kacani - 4
- Liberty Square Development,Llc - 4
There are also numerous owners that are identifiable as the same owner, e.g. “Liberty Square Development, Llc” and “Liberty Square Development,Llc”. (the small difference is the space before “Llc”)
It is generally safe to say that Albany does not have an issue with a small number of owners controlling dozens of vacant buildings each, rather Albany has an issue with a larger number of owners controlling a single property. It is armchair quarterbacking to truly guess which is a better position to be in. Do you get economies of scale in dealing with enforcing building code with a smaller number of owners? Does individual ownership of properties tend to incent the owners to do something because the building is more directly tied to their net worth? We can only speculate.