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Jeffrey and Deane Pfeil
One day developers Deane (a Troy native) and Jeffrey Pfeil, principals of J.W. Pfeil & Company, Inc., were driving through Lansingburgh when they came upon 387 Third Avenue, a beautiful, old, red-brick factory building with a seven-story tower, right in the middle of a nice urban residential neighborhood. The building was straight and true, full of simple historic grandeur and falling into disrepair.
After seeing wonderful loft projects, both new construction and historic conversions, in Seattle, Portland, Denver, Atlanta, and Dallas, they had been seeking loft opportunities in the Capital District. Once they saw the inside of 387 Third with its huge windows, heavy timbers and ceiling beams, brick walls and solid masonry construction, they knew it would be perfect for the first real “big-city style” loft condominiums in the area.
Historic preservationists at heart, the Pfeils love old buildings, old neighborhoods, adaptive re-uses, and sympathetic new construction. Based in Saratoga Springs for the past 11 years, they have made their mark there by developing and building several highly regarded buildings, including 340 Broadway, the first new retail/office building on Broadway in 50 years. So successful as an infill project, it is often mistaken for a beautiful renovation of an old building.
Captivated by the wonderful architecture of Troy and the city’s growing vitality, they are now working on two restoration projects there including Powers Park Lofts.
The Powers Park Lofts project team includes the Pfeils and project coordinator, Tim Lieberman, a resident of Lansingburgh.
For more information about J.W. Pfeil & Company, Inc. please log on to www.pfeilco.com
Sponsor: 387 Third, LLC, 340 Broadway, Saratoga Springs, NY 12866
The complete offering terms are in an offering plan available from the sponsor. File No. CP05-0078