Mary Collins Real Estate, Inc.
NEW PALTZ NY - ID: 20200203 - NEW PALTZ On the Market
11 Water Street, New Paltz, NY 12561 ID: 20200203
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Price: $990,000

Sq. Feet: 15,900

Acreage: 0.60

Year Built: 1933

School District: NEW PALTZ

Mary Collins Real Estate
(845) 687-0911
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Property Type: Mixed Use

Description: 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. Tie-ins with Water Street Market and the Rail Trail create a variety of exciting redevelopment opportunities. See property brochure in associated docs for full detail.
High visibility, high-value location adjacent to Water Street Market – one-of-a-kind opportunity. Appealing historic warehouse building that can be re-purposed to create unique and compelling retail and residential space. More than 400 feet of direct Rail Trail frontage along the entire length of the building – enhanced exposure, branding, and retail/dining opportunities.0.57 acre main lot is larger than most central Village parcels, allowing a development of significant scale. Flexible Gateway zoning allows retail, office, restaurant, and upper floor residential uses – full lot coverage and 3-story/35 foot height permitted, with panoramic views of the Shawangunk Mountains to the west. 24-foot high ceilings, with ability to create a second floor within the existing structures. 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.

ZONE: Gateway

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Listing courtesy of: New Paltz Properties / Listing Agent: Matthew Eyler
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