277 Grand Street, Newburgh, NY 12550

Property Description

A handsome five-unit brick apartment building on Grand Street, with an additional sixth top-floor space ready for renovation. 277 Grand is a fantastic opportunity to own an income producing property with street presence and historical character in a premier Newburgh neighborhood. The current legal configuration includes two studio apartments, one two-bedroom apartment, and two three-bedroom apartments. A top floor unit not currently included on the Certificate of Occupancy is laid out as an additional 2 bedroom apartment ready for renovation. The building is well maintained, with a mix of updated and more traditional interiors, good-sized rooms, and a strong existing rent roll. The common areas and original architectural details give the building a sense of character that is increasingly hard to find in larger multifamily properties. Location makes the property special. 277 Grand sits within Newburgh’s East End Historic District, surrounded by some of the city’s most impressive historic architecture. Combined with the building’s approximately 5,250 square feet, five legal apartments, and substantial bonus top-floor space, it is an unusually substantial multifamily property with both strong existing income and real room for further improvement.