Ravens Head Brewing has made a deal to buy the Cramer's Armory building in Cohoes, New York, US, for $220,000.
The company plans to set up a brewery and a brew pub in the 22,000sqft building with an expected investment of $3m.
The deal is expected to complete by15 February following which the construction is expected to commence on 15 March 2013.
Ravens Head co-owner Brennon Cleary was quoted by the bizjournals.com as saying that the brewery is buying a used, 1996 German Kaspar Schultz brewing system for about $500,000.
"A brand-new version of the system would run $2.5 million," Cleary added.
The company plans to brew about 400 barrels in its first year to take advantage of the New York regulation that exempts small craft brewers from paying labeling fees that can run up to $500 a label.
