It’s official, the Monell Mansion (288 Grand) has finally sold! The last time we looked at it was one year ago and it was full of mold and decay. This will be a serious renovation job that is not for the faint hearted. It is a major achievement to find someone willing to take on the task. There certainly was not a shortage of people interested in buying it. The new owners are a couple from NYC. Hopefully they’ll be willing to share their renovation journey. For historical photos click here and here.
Very exciting development! It was disappointing watching some of the City Council actually suggesting looking for another buyer. Their ignorant greed and delays have neglectfully damaged the building further. What a pitiful bunch.
Congrats to the new owners! There are a lot of people quietly rooting for you.
The circumstances regarding the purchase of this property were spelled out explicitly and the owner received several extensions of time in order to close. Related to Diamin’s comment, one of the contingencies tied this transaction was a 5 year owner-occupancy restriction. Regardless, net/net a plus for the neighborhood and the ‘City. ‘Side note, I wouldn’t bet on mortgage rates moving up; there’s $18 tril. that says “I dare you to”.
http://www.cityofnewburgh-ny.gov/sites/newburghny/files/agenda/agenda-file/2014-4-28_city_council_agenda.pdf (pages 91-93)
https://www.youtube.com/watch?v=9i9SvgJBJRI (1:12:50 in)
This is wonderful! living 3 doors up from here for the past 7 yrs, this will be one less heart ache as I walk down the street.
pass by it everyday. great news ! Thought it would become a Yeshiva, often saw orthodox men there who were pointing and talking about the building .
Great news. Welcome to Grand Street!