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Property Description
347 Main Street, Poughkeepsie is a multi-tenant retail/office asset on 1.17ac with leasing and development upside in a growing Central Business District.
The subject property includes one of three federal bankruptcy courthouses in the Southern District of New York, guaranteed by the United States Government (S&P Credit Rating: AA+). The lease commenced in 2005 and was recently extended for an additional 10 years thru 2034.
Though some of the 80+ surface lot parking spaces are dedicated to the court, a large majority of the lot could be developed into an apartment building or hotel with up to 7 stories.
PRO FORMA NOI NEARLY $500,000
BUILD 60-80 APARTMENTS OVER PARKING LOT AS-OF-RIGHT
UP TO 100 APARTMENTS WITH AFFORDABLE HOUSING COMPONENT
Features
- Heating System:
- Natural Gas, Forced Air
- Cooling System:
- Central Air
- Basement:
- Finished, Full
- Parking Features:
- Private, Parking Lot
- Sewer:
- Public Sewer
- Utilities:
- Trash Collection Private, Natural Gas Connected, Electricity Connected, Cable Connected, Water Connected, Sewer Connected, Phone Connected
Address Map
- City:
- Poughkeepsie
- State:
- NY
- County:
- Dutchess County
Property and Construction
- Development Status:
- Brick
- Agent MlsId:
- 55956
- Office MlsId:
- KWMIDH
- Special Listing Conditions:
- No
- Stories Total:
- 2
- Tax Annual Amount:
- $113,888
- Water Source:
- Public
- Zoning:
- Innovation District
- PhotosCount:
- 10
Commercial Sale For Sale
347 Main Street, Poughkeepsie, NY
$4,800,000
Listing ID #912474
Basic Details
- Property Type :
- Commercial Sale
- Property SubType :
- Office
- Listing ID :
- 912474
- Price :
- $4,800,000
- Bathrooms Total :
- 0
- Building Area :
- 33,711 Sqft
- Year Built :
- 1860
- Status :
- Active
- Status :
- Active
- Listing Office :
- KW MidHudson
- Listing Agent :
- Don Minichino
Agent info
Kasner Properties
284 W Park Ave Long Beach, NY 11561
Contact Agent
Walkscore
