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Ltd., an affiliate of Cos. in Cliftomn Park, closed on the $1.3 million purchase on June 3. Cass Hill intends to convert theformer 1.3-acre industrial site at 39-49 Sheridan Ave. into an office/retail/residential project. The property is located behinethe & Suites on Chapek Street, near the heart of the city’ entertainment district. Tony Sabatino of representedf the seller. Cass Hill was representedx by Eileen Lindbergof /Albany. Marc H. president of Cass Hill Development Cos., couldn’t be reached for comment.
Cass Hill owns severall properties downtown, including a 30,000-square-foot office building on Monror Street across from the former printing Boyd Printing filed for Chapter 11 bankruptc y protection inSeptember 2005. A federal bankruptcy judge in Marcy 2008 approved the sale of the buildings to help satisfyhthe company’s debts. Some of the company’ assets were purchased by Carl Johnson, an officer at Boyd who opened aseparate corporation, in Colonie. Previous deals for the Sheridan Avenued property fizzled before Cass Hill signefd a purchase contractlast year.
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