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Listed by: Halter Associates Realty
$ 899,000
Est. payment | /mo
5,980 SqFt
$ 899,000
Est. payment | /mo
5,980 SqFt
Key Details
Property Type Commercial
Sub Type Hotel-Motel
Listing Status Active
Purchase Type For Sale
Square Footage 5,980 sqft
Price per Sqft $150
MLS Listing ID 20244394
Originating Board Hudson Valley Catskills Region Multiple List Service (Ulster County Board of REALTORS®)
Year Built 1946
Annual Tax Amount $16,640
Tax Year 16640
Lot Size 5.970 Acres
Acres 5.97
Property Description
This 5.97 acre property is made up of three contiguous parcels along the picturesque Kauterskill Creek near the commercial district of Palenville, NY. All three lots are being sold together. On the first parcel with valuable frontage along 32A, is the former Rainbow Hotel built in 1946 hotel which requires full rehabilitation or to be replaced with a new structure. The second parcel has an existing 3 bedroom cabin and the large open area in front of this cabin has a filled in swimming pool. The third parcel has 11 guest cabins in varying conditions circling around a large open area. As part of your redevelopment plan, and with the necessary approvals, you can join the boutique hotel revolution happening in New York's Hudson Valley or create a rental community. Palenvillas! You can add a direct pathway down to the water to enjoy one of Upstate New York's greatest pleasures, a natural swimming hole! Palenville is in close proximity to Windham, Belleayre, and Hunter Mountains for skiing, hiking and all outdoor sports. It is also close to dining and other area amenities, and the HITS Horse Show grounds. Guests will have a short drive to Saugerties and further on to Woodstock and Kingston. The opportunity to develop this fantastic waterfront property with Route 32A road frontage should not be missed!
Location
State NY
County Greene
Area Greene
Zoning Mixed
Exterior
Waterfront Yes
Waterfront Description Creek
Building
Lot Description Meadow, Views, Other
Sewer Septic Tank
Water Well
Others
Tax ID 199.08
Acceptable Financing 1031 Exchange, Cash
Listing Terms 1031 Exchange, Cash
