|
Positioned within Newburgh’s vibrant East End Historic District, this 1924 block-and-brick commercial building offers nearly 8, 000 square feet of versatile space across two expansive levels. Leveraging the city’s unique hillside topography, each floor features independent, at-grade street access via dedicated drive-in loading bays—offering seamless logistics for creative studios, workshops, or light manufacturing. The structure was originally built as a garage and machine shop, serving as an early dealership for Hudson and Patterson automobiles and housing utility fleets for Bell Telephone and Central Hudson. Today, it stands ready for its next chapter. A complete construction plan set, by local architect Chris Berg of Fifth Street Architecture, has been fully approved by the Architectural, Zoning, and Planning Boards, clearing the way for conversion into a creative studio and workshop complex. This approved plans can be amended to suit your specific vision, subject to local permissions. Architectural & Structural Highlights: The Upper Level (Lander St): Features a 10' x 10' rolling door and an intact steel truss roof system allowing for wide-open, column-free spans. Ceiling heights reach 10'9" at the truss base and vault to 16'3" at the apex, ready to support a new EPDM roof system above. The Lower Level (Chambers St): Features an 8'8" x 8'3" rolling door with 9' clearances from the concrete slab to the bottom of the steel girders. Light & Access: Concrete slab floors span both levels while some of the original steel-sash windows line the facade, ready for restoration or replication to flood the entire space with extraordinary four-sided light. The Driveway: The sale includes the recently re-acquired rear ramp driveway at 189 Chambers Street, securing rare and coveted off-street loading and access. Zoning & Tax Incentives: Shovel-ready, the property is located within the Downtown Neighborhood overlay (Zoned Residential Medium with an existing Com 1 site classification). Investors and developers can take immediate advantage of the National Park Service Historic Tax Credit program: Part 1 is approved, and Part 2 is fully completed and ready to transfer to the buyer, unlocking substantial historic rehabilitation incentives. Located within the Newburgh designated Opportunity Zone, offering incoming buyers or equity partners capital gains tax advantages, including tax-deferred growth and potential total exclusion of gains on the new investment if held for 10+ years. Taxes listed are inclusive of the 2026 assessment total and tax total for for the two combined parcels at 189 Lander and 189 Chambers.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
$199,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 | $159,200 | $159,200 | $159,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.512% | 5.866% |
| Monthly Tax Payment | $422 | $422 | $422 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $953 | $993 | $1,311 |
| Total Monthly Payment | $1,450 | $1,490 | $1,808 |
* 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.