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Opportunity to acquire one of the most beautiful parcels of land in New Paltz! This expansive 71-acre property features exceptional privacy, open fields, a 1. 5-acre fishing/boating pond, a half-mile-long private track for running/biking/horses, and the most magnificent views of Bonticou Crag you will ever see. Mountain views abound from every corner of the property, and the Empire Trail crosses the land, providing direct bike/walking access into Downtown New Paltz, just 2. 5 miles away. The property has previously been used as a horse farm and, more recently, as the Coppersea Distillery. There are six separate structures on the land, including a single-family home (1, 967 sf), a recently built metal storage building (900 sf w/15-foot clear ceilings), a two-story building that was used for distilling (4, 000 sf), a large horse stable with floor drains (2, 200 sf), an historic tack room (850 sf), and a modern run-in equipment shed to the rear of the property (800 sf w/15-foot clear ceilings). Amazing wildlife fills the land, with many different habitats including farm fields, ponds, mature forest, a woodland stream, and a thriving wetland toward the mountains (bring your Merlin app if you are into birds - I've recorded dozens of species while hiking the parcel). The property's highly desirable New Paltz location, breathtaking views, farmable land, usable out buildings, and unique recreational amenities suggest a number of use cases. 1) A buyer could build a new luxury home and enjoy all the benefits this amazing property has to offer. The outbuildings and farmland could be leased to a farmer, or the outbuildings could be used for the new owner's hobby or other business. 2) In conjunction with building a new home, a buyer could undertake their own agricultural activity, such as raising horses, livestock, vegetable or fruit farming, or hay farming. In this scenario the new owner could enjoy a pastoral existence surrounded by beauty and nature and would also likely be eligible for an agricultural tax exemption. Outbuildings could be utilized as part of this agricultural activity. 3) A professional farmer could buy the land, renovate and live in the existing home, and utilize the outbuildings for their farming business. 4) In addition to agricultural and single-family residential use, the property's A-1. 5 zoning permits a riding academy, a vacation resort, or a camp/cottage/cabin development, with Planning Board review. A new farm distillery could also be opened, as could a retail road stand selling produce grown on the property. Please call listing broker to arrange a tour of this remarkable property - just make sure you set aside an hour or two so we can explore the vastness of its beauty!
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 Region
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,120,000 | $1,120,000 | $1,120,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.086% | 6.183% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,359 | $6,715 | $9,451 |
| Total Monthly Payment | $6,484 | $6,840 | $9,576 |
* 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.