Two sizable waterfront properties have hit the market in the Hudson Valley, seeking eight figures apiece.
One property, the Hudson Valley Wine Village, has 437 acres of fully authorized developable land with necessary permissions for large-scale, mixed-use development.
Clearances include approval for 800 residential units, 450,000 square feet of industrial, over 157,000 square feet of retail/commercial space, and a 140-key hotel with a conference center, restaurants, spa and two wedding chapels, according to Avison Young.
Over the last decade, the site’s owners invested $10 million into the development site. The property is eligible for federal and state tax credits.
The site, located at 200 Blue Point Road, is seeking upwards of $40 million.
The second property for sale is at 302 North Water Street in Newburgh, NY, the former site of the Regal Bag Factory.
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The 2-acre waterfront property consists of a 107,430-square-foot former industrial property that was converted to offices. The identities of the sellers were not immediately clear for the property, which has an asking price in the neighborhood of $20 million, according to Avison Young.
The sellers of the properties were not immediately clear.
Would-be buyers can potentially redevelop into residences, with the vacant land portion offering unobstructed views of the river. The firm projected a potential project at 240 units across 270,000 square feet.
The property lies across the Hudson River from Beacon, NY, with ferry accessibility to the Metro-North Railroad.
Correction: An earlier version of this story misstated the amount of developable land at Hudson Valley Wine Village. It is 437 acres, not 37 acres. The asking prices for the two listings has also been revised.