Sale of KeyBank’s former Altamont branch could close by October

 KeyBank in Altamont

The Enterprise — Sean Mulkerrin
Currently under contract: The former home of KeyBank in Altamont could soon be off the market. This week, KeyBank spokesman Michael Conlin told The Enterprise that the sale of 105 Park St. is estimated to close in October, but he would disclose neither the buyer nor the price.

ALTAMONT —  As more and more customers abandon brick-and-mortar banks for the convenience of online and mobile banking, close to 12,000 bank branches have closed in the past decade, accounting for about 12 percent of all local bank offices in the United States. 

In May, citing changes in customers’ banking preferences, KeyBank closed its Altamont branch at 105 Park St. 

This week, The Enterprise learned that building could soon have a new owner.

“The building was marketed for sale following its closure and is currently under contract. The sale is estimated to close in October,” KeyBank spokesman Michael Conlin wrote to The Enterprise in an email. “That’s all I can disclose.”

The building, however, continues to be listed for sale at $495,000. 

With the recent revaluation in Guilderland, 105 Park St. has a full-market value of $440,200, which is down about $20,000 from last year’s assessment. 

A brick bank in the Greek Revival style had been built on the site in 1911. It was demolished along with a neighboring Victorian house in the 1970s to make way for the new bank building, stirring considerable controversy in the village.

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