Here is an interesting home that has just come on the market on Grand Street, a block with a lot of potential. There a few interior photos, so I’ll tell you what I know about the block. Two doors to the left, 277 Grand is known as “The Artists and Writers Building.” The new owner has fixed up the property and their family is very involved in exciting ventures in the city like the NewBurgh Food Co Share and Digital Territory. On the other side of the street is the Monell Mansion that is in the final stages of being sold to exciting new tenants. Unfortunately the house to the left, 279 Grand is abandoned last time I checked, but she is a beauty and hopefully won’t remain vacant forever.
The property is being marketed with an on site super and management options. However, the ratio of renters vs. buyers on this block is quite high. It would be ideal if an on site landlord bought this property. For the right buyer with the right intentions, this property is worth a look. If anyone knows any useful information on the property, please comment below.
281 Grand St Newburgh NY (Listed by owner)
Asking Price: $250,000
Year Built: N/A
Size: 3,049 sq ft
Distance to NYC: 58.1 mi, 1 hour 9 mins
Public Transportation: MetroNorth to Beacon, then take ferry across
Closest Roadways: 9W, I-87, I-84
This section of Grand is unique in its neighboring of several architectural styles. ‘Walking these streets often, I’ll agree with Cher about the new owners of 277 being better stewards than the previous. They’re efforts have spilled over, for the most part, to the adjacent residences as well; interesting how that works.
That said, it is a “liveable” neighborhood and with an occupancy of the Monell property, hopefully, the neighborhood should continue to improve. Built in 1965, 281 is newly assessed @ $207,700 which is a bump up from last year @ $200,000. County/City taxes are listed @ $5,700 and School @ $5,600 (not reflective of the new assessment). A division into eight units for this building is too many from an owner/occupant perspective imo. This may be why it is being marketed in the manner it is (281 is owned by a LLC,a preferable way of ownership for a multi-unit). fyi Going way back just five years ago the property was assessed @ $620,000.
Yes, sometimes I look up the tax information that I know is so completely off, I just write “N/A” not to get anyone’s hopes up. Thanks for the building date.
I remember hearing some time ago that this building was cut up to maximize income potential, maybe for the person with the right intentions it would be wiser to limit the number of units to bring more quality and not quantity to this block…
I am the current property manager for this building. We took over management recently and have made lots of progress with it. We were able to remove the people who were non-paying and those that were involved in illicit activity.
This building has great potential, both in it’s apartment density and location. We have already filled a few vacancies with respectable, hard working people.
If anyone has questions about this property please call my office at 845-565-1290 and ask for Dan Gilbert.
Thanks Dan for the info
How many units are in the building?
There are 8 units, 4 studios and 4 2 bedrooms.
Good luck, Dan! I’m rooting for you and will send people your way if they are interested in an apartment in this building 🙂