Rensselaer County · Troy
Sell Your Commercial Property In Troy, NY
Skyline Capital Investments buys commercial apartment buildings of 5+ units in Troy and across Rensselaer County — listed or off-market, stabilized or value-add. Get clear feedback on your deal, typically within 48 hours.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Neighborhoods & Nearby Towns: Downtown Troy · Little Italy · Lansingburgh · South Troy — Rensselaer County, NY
The Troy Market
What Drives Rentals In Troy
Troy is a renter-majority city: 62.6% of its occupied homes, 13,321 of 21,265, are rented, according to the Census Bureau's 2020–2024 American Community Survey. The median gross rent is $1,175 a month, below HUD's FY2026 metro Fair Market Rent for an efficiency, and the median household income is $58,477.
Troy is also one of the 25 cities in the state's Lead Rental Registry, and its housing is old: more than half of its housing units, 13,725, were built before 1940, and 45.9% sit in two- to four-unit buildings.
Rensselaer Polytechnic Institute and Samaritan Hospital anchor demand. Skyline Capital Investments buys apartment buildings of five or more units in Troy, from Downtown Troy and Little Italy to Lansingburgh and South Troy.
Rensselaer Polytechnic Institute
RPI, at 110 Eighth Street in Troy, offers more than 140 undergraduate, graduate and doctoral programs across five schools, keeping a large student and staff population in the city.Samaritan Hospital
Samaritan Hospital, part of St. Peter's Health Partners, has 277 beds and added a patient pavilion with an expanded emergency department, ICU and new parking garage in 2018.A renter-majority city
ACS 2020–2024 estimates count 13,321 renter households in Troy, 62.6% of occupied homes, with 6,244 housing units in buildings of five or more units.Our Buy Box
What We Buy In Troy
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Troy Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Troy
Troy had 51,033 residents and 21,265 occupied homes in the ACS 2020–2024 estimates; renters held 13,321 and owners 7,944. Of renter households, 50.7% pay 30% or more of income on rent and 25.1% pay half or more. Another 503 renter households had no computable burden because they reported no income or paid no cash rent. About 3,553 housing units, 14.3% of the stock, were vacant at survey time. RPI runs more than 140 programs across five schools from its Eighth Street campus, and Samaritan Hospital, a 277-bed St. Peter's Health Partners hospital, opened a new patient pavilion in 2018.
The apartment stock
Troy's housing is dominated by small, old buildings (table B25024):
| Building size | Housing units | Share |
|---|---|---|
| Single-family | 7,079 | 28.5% |
| 2 units | 7,190 | 29.0% |
| 3 or 4 units | 4,193 | 16.9% |
| 5 to 9 units | 1,982 | 8.0% |
| 10 to 49 units | 1,975 | 8.0% |
| 50 or more units | 2,287 | 9.2% |
The median year built is 1938. After the 13,725 pre-1940 units, construction was spread thinly: 2,020 units in the 1950s, 1,926 in the 1960s and 1,611 in the 1970s. Only 1,229 units have been added since 2010 (table B25034). Small buildings of five to nine units hold as many units as all 10- to 49-unit buildings combined, so many of the city's 5+ unit properties are modest walk-ups rather than large complexes.
Rents and HUD benchmarks
The $1,175 median rent sits below HUD's FY2026 Albany-Schenectady-Troy FMRs of $1,217 for an efficiency, $1,417 for a one-bedroom and $1,702 for a two-bedroom (HUD), so voucher-backed leases can pay more than typical market rents.
Lead registry and landlord rules
Troy is one of 25 communities in the state's Lead Rental Registry: pre-1980 rental properties with two or more units must be registered in Lead Safe NY and inspected for lead hazards at least every three years, with hazards fixed by an EPA-certified contractor. Noncompliance can bring fines, placarding that bars renting a unit, and liens. The law took effect November 3, 2025 (NYSDOH). Troy is not on HCR's ETPA list and was not on the May 2026 Good Cause opt-in list, though Albany was (HCR). Deposits are capped at one month's rent and must be returned with an itemized statement within 14 days of move-out (GOL § 7-108); a sale carries the state's 0.4% transfer tax (NYS Tax Department).
What this means if you own a building here
Buyers will start with lead status, then in-place rents, student turnover and the condition of a pre-war building. Skyline Capital Investments buys 5+ unit buildings in Troy; check our cap rate calculator or request an offer.
Good To Know
What Shapes A Troy Offer
Planning to sell commercial property in Troy, NY? These are the factors that shape our offer.
More about selling in New York →Investing in Troy? See apartment syndications in Troy →
- Troy is in the state Lead Rental Registry, so rental properties built before 1980 with two or more units must be registered and pass a lead hazard inspection at least every three years.
- With 82.7% of Troy's housing built before 1980 and a 1938 median year built, nearly every apartment building in the city falls under the lead registry.
- Troy is not an ETPA municipality and was not on HCR's Good Cause Eviction opt-in list as of May 4, 2026, unlike the City of Albany across the river.
Seller Guides
Your Situation, Handled — Troy
Learn More
Taxes & Rules For Troy Property
The New York rules that shape any deal in Troy: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Troy Seller FAQ
What is the average rent in Troy, NY?
The Census Bureau's ACS 2020–2024 estimate puts Troy's median gross rent, including utilities, at $1,175 a month. HUD's FY2026 Fair Market Rents for the Albany-Schenectady-Troy metro are $1,417 for a one-bedroom and $1,702 for a two-bedroom.
Does Troy have rent control?
No. Troy is not on the state's list of municipalities that adopted the Emergency Tenant Protection Act, and it was not among the localities that had opted into Good Cause Eviction as of May 4, 2026. State rules cap security deposits at one month's rent.
What share of Troy residents rent?
About 62.6%. The ACS 2020–2024 estimate counts 13,321 renter-occupied homes out of 21,265 occupied homes. Some 50.7% of renter households pay 30% or more of income on rent, and 25.1%, about 3,349 households, pay half or more.
Do Troy landlords need lead inspections?
Yes. Troy is one of 25 communities in New York's Lead Rental Registry, effective November 3, 2025. Owners of rental properties built before 1980 with two or more units must register in Lead Safe NY and pass a lead hazard inspection at least every three years.
Do I need to fix up my Troy building before selling?
No. We price in deferred maintenance, vacancy, and below-market rents ourselves, so you can sell the property as it stands.
How does a sale to you work in Rensselaer County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Can I sell rental property in Troy with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
What do I need to sell my apartment building in Troy?
An address and unit count are enough to start. A current rent roll and trailing twelve-month statement let us move to a written offer faster.
Submit A Deal
Selling A Building In Troy?
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Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
