This whole block of 5 buildings on South Street between Liberty and Chambers Streets is for sale. A previous deal has fallen through and they are back on the market. I thought it was a good time to share these properties now.
These buildings are being sold individually although the most impactful development of these properties might be as a group. Newburgh isn’t like other Hudson Valley cities or towns with just one main commercial thoroughfare. This example at South Street shows the various commercial corridors that can be found in the City of Newburgh. Most people focus on the residential income potential but the 5 storefronts could use thoughtful placemaking development that would uplift and benefit the community. They are located right off the northern end of Liberty Street. A few projects and properties to watch that can speed the momentum of development of this area are: Weigand’s Tavern, the Girdle Factory, 307 and 315 Liberty Street, and others that are for sale.
Below are the individual listings in this sale:
- 142 South Street, Newburgh NY $140,000
- 140 South Street, Newburgh NY $109,000
- 138 South Street, Newburgh NY $89,000
- 136 South Street, Newburgh NY $125,000
- 134 South Street, Newburgh NY $149,000
- 301 Liberty Street, Newburgh NY $159,000
- 174 Chambers Street, Newburgh NY $139,000
A hopeful rendering
Thanks for posting my listings. This offering really does represent a unique opportunity and is another very important artery for the City- like, liberty St? where is that? …just kidding. But South st is going to rock again one day soon. I was talking to a gentleman today on the street telling me about how this row of commercial space used to be.. Anyway, I just wanted to say that the prices on these properties were reduced this week, and that the properties on the other side of the block are available too, Rosemary
If anyone can sell this, it’s going to be you, Rosemary! And a whole new neighborhood revitalization awaits..It’s just a matter of time before those milleniels get it together and start their take on a cooperative (see here: http://www.crainsnewyork.com/article/20150524/REAL_ESTATE/150529932/hundreds-join-a-new-kind-of-co-op-to-buy-commercial-property-in-high-rent-areas) It’s just a matter of time, and a few kids with some good heads on their shoulders…
Newburgh’s colleges have been graduating millennials out by the thousands for the past two decades. I don’t think their terminal lack of interest is due to apathy or savvy. An investment without solid fundamentals is speculation. Millennials aren’t keen on speculation, and rightfully so, as they’ve seen a minimum return on their so called edu ‘investment’. Newburgh is a mecca of RE ‘investors’, both professional and not, some of which are partnering with other institutions, both for-profit and non. It does not suffer from a lack of RE investing mechanisms. As the ‘Burgh is a corporation, all taxpayers are vested shareholders. The problem is there aren’t enough vested peeps relative to its ‘consumers’. Forming another co-op, llc or whatever doesn’t change the net result positively until the share holders,stakeholders and consumers, actually live here by majority and/or pay their relative share of expenses to Newburgh including its school district. Otherwise, ownership of those few buildings listed is no different from the Mid Bdwy project. The math says Newburgh, under its current taxing model, can have every vacant building occupied and it will not be enough to fulfill its future financial requirements. Given its majority share of multi-unit housing, Newburgh’s expenses increases disproportionately to its revenue. In a recent City Council work session a councilman brought up the notion of looking into this disparity. It’s interesting because this same councilman, among others, previously declined the Mayor’s suggestion of joining a state initiative to address a more efficient use of property vs school tax collection. He’s fond of saying “walk the talk”, let’s see where he goes with this. If they keep dragging their ‘arse on this I’m outta here. I’m tired of having young people killed as a result of the ‘come one, come all’ policy and the lack of respect and responsibility it assumes. I’m definitely not going to pay for it… that’s blood money.
fwiw & imo, the nycreic concept has devolved into the very same structure it originally abhorred…boards, lawyers, fees, and ‘partnering’ with banks, cdfi’s, government, foundations and pension funds, chasing undefined dividends for their ‘investors’. The mere possibility is enough to keep me away. “Power tends to ,…”.
I really don’t think that it matters much if real estate and business stakeholders who invest time, money, and effort in a community live there or not if they are paying the taxes and putting in the effort. Time to stop generalizing about that. Your problem is having people who care vs people who don’t care! When I hear that “an artist” just bought a rundown structure to live in I simply shudder as I know that it’s just another person buying a historic structure on spec. The key words being ” artist” and “architect”. Get real. The desired people are people who give a damn and who are going to clean up and fix up starting on day one. The Windows shouldn’t be boarded up after 60 days. The weeds and trash should be picked up in the first week. I see that properties sell to new owners and the awnings are still ripped and the front doors still have chains and locks…… Time to monitor the county clerks offices records to see if the sales are being properly recorded and transfer taxes paid as properties should look normal from the street at once!! No boarded up looks w broken windows. no garbage cans without lids. Make landlords give these people some nice large cans with lids!!!
The article in Crain’s mentions cooperatives in HIGH RENT areas. City of Newburgh is far from that. As another poster pointed out – there is no foot traffic in this area, no demand from customers, no business corridor, no strategy from the city. So who will these businesses sell to and what will they sell?
As I’ve opined on many occasions, the main problem is crime. There is, and will be no foot traffic because of high crime. The city is walkable, has beautiful architecture and can certainly regain its old glory. But that criminal element needs to be removed post haste. They are constraining much development. The difference between old brooklyn, harlem etc. and Newburgh is that the NYPD cleaned up those drug infested, high crime areas in brooklyn and harlem. The same has to happen in Newburgh.
There it is. That’s the inverse to the ‘policy’ I was referring to. Newburgh has long played the role of the Hudson Valley’s ‘source’ for dependency and with it comes the crime. It is by design. Given Newburgh’s assets, some of which you point out, how else can it be explained? The ‘City has been ‘dealing’ with the same issues for decades, you can’t tell me they haven’t figured it out. Newburgh will be Newburgh until tptb says otherwise.
Yes Njp, it is a “generalization” to say with independence comes responsibility. If you make the shared assets of a community easily accessible to all without accountability it’s going to be abused. Crime doesn’t equate to accessibility, but it can be an unfortunate result.
@Walt. No change from tptb as long as Newburghers and her investors tolerate the crime infestation. There is a naivete here – that cutesy stores, pop ups, new street lights, paved sidewalks etc. can continue and lead to a re emergence of Newburgh WITHOUT addressing the crime issue. Somehow massive economic development and new businesses will emerge and thrive while the numerous gangs operate (bloods, crypts, X13 etc.), the drug culture, prostitution, and gun running continues or grows. This thinking is absolutely insane.
Oh, and constructive criticism of the crime situation is not allowed. Too negative. Portrays the place in a bad light. Are these people living in reality?
It’s time for Newburgh to appeal to the state, DEA, FBI or wherever they can get help. A massive law enforcement operation is needed to rid newburgh of the gangs, drug and gun runners. Cleaning them out will also free up the places they rent and bankrupt the slumlords who harbor them. Slumlords either sell or foreclose. Either way, get them outta here
Safety is on the 2nd level of Maslow’s hierarchy of needs. Personal security is vital to any development, economic or otherwise. When safety of the citizens is established and maintained, then you’ll see the families and owner occupied homes increase.
I was at the corner of liberty and broadway last weekend checking out the much ballyhooed new park being set up, the commercial building renovation across the street etc. Drugs were being sold right in the glass bus stop a the corner. Another guy laying there all stoned. A few days later, 2 lives lost close by. Why is it that no one else sees the insanity here? Stop paving empty streets and clean the crime up instead. You don’t need a tree lined median down Broadway, you need the freaking gangs out of Newburgh!
The problem with those spaces is that retail in an urban area depends upon the surrounding inhabitants of the area. There is not a lot of parking there. There is no established retail business i.e. Dollars per square foot. Foot traffic. It’s a neighborhood where the people living there have 100 percent of their needs of disposable income met by bodega shopping for cigarettes, chips and soda, drugs, beer, and lotto and similar products for immediate consumption. I think the development plan should make clear what stores would be successful by investing in a retail white paper for merchants to follow. I just can’t imagine living on Liberty there and shopping for anything in those buildings which seem to be completely run down shells. Active gang activities in gun running and drugs mean that that is a dangerous location to shop. Last spring people were shot in one of the buildings while shopping at a store. The police told one of the surviving victims that there were no working cameras in the location from which to identify the shooter as the police were waiting for someone to request that the cameras be turned on!!! So the shooter never id’d and still at large. Maybe it was the same as the Halloween shooter? We will never know and the shooting victim has to know that justice was not done. So now you think people will rush over to those stores to shop or open new businesses? Invest hundreds of thousands to improve the buildings to a code? When there is no parking or security for patrons? You must be living in la la land!
We purchased a home that we hope to be living in by the end of 2017. No one would be thrilled more than my husband and I to see that part of South Street purchased, fixed up and turned into businesses that can thrive, employ local youth and adults. And it’s a good looking stretch of South Street with the view off to the river. I’m keeping fingers crossed.
Correction: We purchased a home around the corner from this block for sale- one that we hope to be living in by the end of 2017. No one would be thrilled more than my husband and I to see that part of South Street purchased, fixed up and turned into businesses that can thrive, employ local youth and adults. And it’s a good looking stretch of South Street with the view off to the river. I’m keeping fingers crossed.