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5355 New York 23, Windham, NY, 12496 | $689,000
CALLING INVESTORS - PRIME WINDHAM VILLAGE OPPORTUNITY
Rare opportunity in the heart of Windham Village with exceptional commercial and residential development potential. Positioned in one of the Catskills' most desirable four-season destinations, this property offers investors the chance to capitalize on the continued growth and popularity of Windham.
Windham is truly ''the place to be, '' attracting visitors year-round with its breweries, restaurants, movie theater, live entertainment venues, walking paths, golf, and outdoor recreation -- all just minutes to skiing at Windham Mountain Club.
This property presents tremendous upside potential for:
• Mixed-use commercial/residential development
• Retail with upscale apartments above
• Boutique hospitality or vacation rental concepts
• Restaurant, brewery, or entertainment venue
• Expanded multi-unit residential use
A major value-added component already exists through participation in the NYC Watershed/CWC flood mitigation program. The current ownership has completed the first three phases of approvals and applications, positioning the project for construction application status. Approximately 3/4 of associated cost is covered for:
• Elevating the building due to flood zone
• Constructing a new foundation
• Relocating utilities to the first floor
To preserve continuity within the approved program, ownership is structured through 5355 Main Street, LLC, allowing a purchaser to step directly into the existing approval process and benefits already secured.
Additionally, prior approvals from the Town of Windham included:
• A rear addition
• Expanded first-floor commercial space
• Relocation of apartments to upper levels
Ownership was also advised that a future third floor of apartments would likely receive approval, creating even greater residential income potential.
With strong tourism, growing demand, and limited village inventory, this is a strategic opportunity for investors and developers seeking a high-visibility property with approvals, infrastructure planning, and substantial upside already in motion
Features
- Bedrooms: 5
- Units: 4
- Year Built: 1965
- Acreage: 0.24
- Est. Taxes: $3,836
- School District: Wind-Ash-Jewett
- MLS#: 20262874
- Days on Market: 12 days
- Website: https://www.raveis.com
/prop/20262874/5355newyork23_windham_ny?source=qrflyer
Information is deemed reliable but is not guaranteed accurate by the MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Source: Hudson Valley Catskills RegionListing courtesy of Shaw Country Realty, Inc.
William Raveis Family of Services
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Customer Service
888.699.8876
Contact@raveis.com
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- Market your home to realize a quick sale at the best possible price
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To learn more about our credentials, visit raveis.com today.
Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
5355 New York 23, Windham, NY, 12496
$689,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $551,200 | $551,200 | $551,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.490% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.615% | 5.866% |
| Monthly Tax Payment | $320 | $320 | $320 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,301 | $3,480 | $4,540 |
| Total Monthly Payment | $3,713 | $3,892 | $4,952 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535