Ang 347 Main Street, Poughkeepsie ay isang multi-tenant na retail/office asset sa 1.17ac na may potensyal sa leasing at pag-unlad sa isang lumalagong Central Business District. Ang nasabing ari-arian ay kinabibilangan ng isa sa tatlong federal bankruptcy courthouses sa Southern District ng New York, na ginagarantiyahan ng Gobyerno ng Estados Unidos (S&P Credit Rating: AA+). Ang lease ay nagsimula noong 2005 at kamakailan lamang ay pinalawig para sa karagdagang 10 taon hanggang 2034.

Bagaman ang ilan sa 80+ surface lot parking spaces ay nakatalaga para sa hukuman, ang malaking bahagi ng lote ay maaaring i-develop bilang isang apartment building o hotel na may hanggang 7 palapag.

PRO FORMA NOI HINDI BABABA SA $500,000
MAGTATAYO NG 60-80 APARTMENTS SA ITAAS NG PARKING LOT NA MAY KARAPATAN
UMABOT SA 100 APARTMENTS NA MAY COMPONENT NG ABOT-KAYANG PABAHAY

347 Main Street, Poughkeepsie is a multi-tenant retail/office asset on 1.17ac with leasing and development upside in a growing Central Business District.

The subject property includes one of three federal bankruptcy courthouses in the Southern District of New York, guaranteed by the United States Government (S&P Credit Rating: AA+). The lease commenced in 2005 and was recently extended for an additional 10 years thru 2034.

Though some of the 80+ surface lot parking spaces are dedicated to the court, a large majority of the lot could be developed into an apartment building or hotel with up to 7 stories.



PRO FORMA NOI NEARLY $500,000

BUILD 60-80 APARTMENTS OVER PARKING LOT AS-OF-RIGHT

UP TO 100 APARTMENTS WITH AFFORDABLE HOUSING COMPONENT