BY MICHAEL DEMASI, ALBANY BUSINESS REVIEW

Schenectady, N.Y. — Redburn Development Partners’ latest investment in Schenectady would renovate a mostly empty building downtown into medical offices and retail space while keeping the anchor tenant, Bank of America.

Redburn paid $3.26 million for the 73,800-square-foot building at 500 State Street and two parking lots around the corner on Clinton Street, according to Reonomy, a real estate data firm.

The plans call for converting about 45,000 square feet into offices for multiple medical tenants and a small amount of retail, said Jeff Buell, a principal at Redburn Development

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