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347 Main Street
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Miami, FL
Hvny commercial team @kw is pleased to exclusively market 347 main street, poughkeepsie - a multi-tenant retail/office asset on 1. 17ac with leasing and development upside in a growing central business district. The subject property includes one of three federal bankruptcy courthouses in the southern district of new york, guaranteed by the united states government (s&p credit rating: aa+). The lease commenced in 2005 and was recently extended for an additional 10 years thru 2034. Though some of the 80+ surface lot parking spaces are dedicated to the court, a large majority of the lot could be developed into an apartment building or hotel with up to 7 stories. Pro forma noi nearly $500,000
build 60-80 apartments over parking lot as-of-right
up to 100 apartments with affordable housing component
Data is provided by OneKey MLS.