Troy

A speakeasy and an upscale restaurant are among the ideas being entertained by a Washington County accountant who is the new owner of the former Union National Bank headquarters in downtown Troy.

The architecturally significant structure at 50 Fourth St., just north of the Troy post office, was purchased last month by Frank J. Musso of Argyle from the estate of Richard Wilson, the former owner. Sale price was $360,000.

Musso said he's heard a number of ideas about what he should do with the building.

"A couple of people said it would be a nice speakeasy," he said. Other suggestions included a restaurant and even incubator space for startup businesses.

The bank space is tall, somewhat narrow, and deep.

Musso is the sole owner although he's talking with potential partners about the building's future.

Union National Bank, founded in Troy in 1865, moved its headquarters to Albany in 1972, and was acquired by OnBancorp of Syracuse in 1993. Buffalo-based M&T Bank Corp. acquired OnBancorp in April 1998.

Several years ago Cory Nelson envisioned the former Troy bank building for the home of his new Troy Kitchen, an upscale food court and restaurant incubator, but ended up locating it in the former Pioneer Food Co-op on Congress Street, which was already equipped with refrigerators and other appliances for food preparation.

Troy Kitchen last month marked its second anniversary.

On Wednesday Musso said he was still "running the numbers" on the former bank building. "I'm still in the planning and want to get costs. I do want to renovate it," he said.

"It's such a beautiful building. I wanted to make it smile again."