Albany

Real estate developer Ryan Jankow paid $950,00o for the old Playdium property on Ontario Street in Albany as he gears up to build a $16.3 million apartment complex on the 1.8 acre site.

Jankow has already received $7.7 million in tax breaks for the project from the city of Albany Industrial Development Agency.

Jankow, who is a co-owner of the City Line Bar and Grill on Western Avenue, plans to demolish the old Playdium building that used to house the city's last bowling alley.

Jankow and minority partner Tom Lynch of Katonah are planning to build three four-story buildings that will include 109 apartments and between 4,000 and 6,000 square-feet of retail space.

Garry DeGonza of DeGonza Realty brokered the sale of the property, which occurred on Wednesday.

The property was owned by Playdium Bowling Center owner Neil Luther, who had operated the bowling alley since the 1980s.

The broker representing Jankow was David Phaff of Howard Hanna.