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Mulling a purchase of the above-referenced. Primary residence and (I suppose) investment. Would welcome some pros and cons from Albany city-dwellers. Coming from another area of upstate NY, but lived in Albany a while back.
I live in Albany, but Uptown. What are the cross streets? That part of State is, for the most part, excellent, especially between Lark and Dove. Adjacent to Washington Park is nice too, but a little busier and louder, and not as much of a neighborhood/community feel. I know several folks who moved to the quieter streets in the Center Square neighborhood of Albany, and they have made some great friendships with their neighbors, especially other homeowners. It's urban enough, though, that if you want to keep to yourself that's OK too. It's a pretty progressive, live and let live area. Lots of young professionals and empty nesters. Gay-friendly too, but certainly not a predominantly gay neighborhood.
As you know, NYS taxes are high and Albany even more so, but if the property has a rental unit in the basement, as many do, it will help out a lot. If the unit is in decent shape, it is pretty easy to rent to good tenants in that neighborhood. If it comes with parking, even better. If there is no parking, it can be a pain, especially if you come home late on weekend nights. The new parking permit system has freed up parking for residents during the weekdays.
There is some crime in that neighborhood because it is close to lots of restaurants and other nightlife. It's not usually rowdy though, unlike further downtown (Pearl Street) or further uptown where lots of students live near Madison and Ontario. I walk around the State St area until around 11:00 pm and have never felt unsafe. (I have kids, so am not out later.) There can be a few odd people walking around, but more on Lark St. and Washington St, not State, but it's an urban area, what you would expect. I let my teen and tween kids in that neighborhood alone in the afternoon and early evening with no qualms. There is some horrible behavior in that neighborhood a few times a year at events like Larkfest, but it is never the residents.
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