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1.
The capital of NY. So named because of its diminutive size, especially compared to New York City.
Mark: Hey, you want to head to x-gates?

Tom: Smalbany, that's gheto!
by DEC February 14, 2005
 
2.
The live event held annually in Albany NY focusing on the technology needs of small businesses.
That's a really cool T shirt! Where did you get it? I got it at smAlbany '08, great show and great guidance.
by Larry Zimbler July 21, 2008
 
3.
Albany, NY is not as small as Albany, CA, though.
"Albany, NY! More like 'Smalbany'!" said guy1.
"Heck no, Albany, CA is much smaller, it isn't even on most maps!" responded guy2.
by guy2 May 14, 2005