High-end Mohawk Harbor condos in Schenectady finding buyers

Townshouse-style waterfront units start at $525,000; six out of 15 are spoken for
The townhouses in 2018
The townhouses in 2018

SCHENECTADY — The waterfront condominiums at Mohawk Harbor are starting to move off the market, with two occupied as of Friday and four more spoken for.

The 15 upscale townhouse-style units at the northernmost end of the property are among the most expensive addresses in the city, with base prices ranging from $525,000 to $750,000, plus the costs of any customization.

David Buicko, CEO of the Galesi Group, which converted the old Alco locomotive complex into the new live-work-play community, said each of the six has gone for its asking price.

Two units are occupied, the buyer of a third will be moving in shortly, a fourth was going under contract Friday, and two others went under contract previously.

There was a lengthy delay between completion of construction and start of sales, as state approval was secured for the homeowners association agreement, then an additional delay, but the market interest was there, Buicko said.

With final clearance in hand to sell, “Things are going as well as we had hoped.”

Minor construction work has begun again — the model units were among those sold, so other units are now being finished as models.

Elsewhere in Mohawk Harbor, Galesi Group is making progress in filling the commercial space, Buicko said. The previously announced plan to place Southern Italian-themed restaurant Zio’s At The Trolley in Mohawk Harbor fell through, but The Shaker & Vine, a wine bar/restaurant, is doing well enough that it expanded.

Buicko said he expects to announce additional new tenants next month.

Categories: Business, News

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