11 Water Street, New Paltz

$990,000

PENDING CONTINUE TO SHOW
0 Beds
0 Baths
15,900 Sqft
.6 Acres
0 Garages

The finest redevelopment opportunity in New Paltz! Offering includes both 11 & 13 Water Street. Located immediately south of Water Street Market along the Wallkill Valley Rail Trail, the property features a 15,000 square foot former box factory with original wood beams and 24-foot ceilings, along with a three-bedroom rental house currently leased for $1,780 per month. Zoning for both lots was recently changed to “Gateway”, allowing a variety of uses including retail, art gallery, office, restaurant, and apartments above the first floor. The warehouse building could be renovated and re-purposed, or a new development could be constructed on all or some of the site. New development potential is enhanced by high-density zoning, central location, and tremendous demand for quality residential product in the Village of New Paltz. Target market could include weekenders or full-timers from NYC, local retirees seeking to down size from their current homes, SUNY professors, and young professionals. 400 feet of direct Rail Trail frontage along the entire length of the lot, plus panoramic Shawangunk mountain and Wallkill River views to the west. 0.57 acre main lot is larger than most central Village parcels, allowing a development of significant scale. Full lot coverage and 3-story/35 foot height permitted. Tie-ins with Water Street Market create a variety of exciting redevelopment opportunities. Existing tenants, including the popular CHBO drum shop and the residents of the three-bedroom rental house, help to defray carrying costs while plans are completed. $990,000 offering price equates to just $62 psf – excellent value, particularly considering the Property’s irreplaceable New Paltz waterfront location. Opportunity to execute a bold and creative vision that will make an enduring and positive stamp on the Village of New Paltz. See property brochure in associated docs for full detail.

Essential Information
MLS® #20200203
Price$990,000
Square Footage15,900
Acres0.60
Year Built1933
TypeCommercial/Industrial
Sub-TypeMixed Use
StatusPENDING CONTINUE TO SHOW
Community Information
Address11 Water Street
AreaNEW PALTZ
CityNew Paltz
StateNY
Zip Code12561
School Information
DistrictNEW PALTZ
Additional Information
ZoningGateway
Listing Details
AgentMatthew Eyler
Listing Courtesy of New Paltz Properties
Property History
Status Changed from ACTIVE to PENDING CONTINUE TO SHOW
LISTING MAP

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