Overview

Description

Avison Young has been exclusively engaged by ownership to offer for sale Newburgh’s Regal Bag Studios (the “Site”), + 6.75 acres of developable land in Newburgh, New York. The Site is comprised of covered and vacant land with over 2,000 feet of Hudson River frontage directly across the Hudson River from Beacon, New York and just 60 miles north of New York City.

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Highlights

• ± 6.75 acres with nearly 2,000 feet of Hudson River frontage
• Existing ~110,000 square foot structure offers blank canvas for creative development of up to 100 irreplaceable units
• Preliminary entitlements analysis indicates feasible pathway to pre-development approval for over 247,000 total square feet encompassing 200+ residential units, with potential to increase density via public infrastructure trade-offs
• Enhanced accessibility to upstate economic hub, underscored by Tesla’s lease of a 927,000 square foot distribution facility within 5 miles of the site in August 2023
• Increased residential housing demand with strong average rental growth of nearly 10% year-over-year
• Coveted orange county location in the thriving Hudson Valley
• Proximity to New York City with access via public transportation

Documents

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