420 Crescent Avenue, Highland, NY 12528 (MLS# 20251673)
$1,716,000
Highland, NY 12528
MLS# 20251673
Status: Closed
24 beds | 23 baths | 15000 sqft
1 / 32
Property Description
Opportunity to acquire a large, well-located multi-family compound with tremendous upside potential. Originally built as a summer bungalow resort, the property features 32 acres of beautiful grounds with 9 individual buildings housing 22 residential units. These buildings include a 3BR single-family home (occupied by the current owners), a motel-like building with 6 studio apartments, a row building with 3 one-bedroom apartments, a two story building with 4 studio apartments, the original main house with 4 one-bedroom apartments, and 4 stand-alone one-bedroom cottages. There is one additional building that houses an on-site coin-operated laundry facility for the tenants. The grounds include mature shade trees, open lawns, wooded areas with stone walls and wild turkeys, and a large pond along the main entrance drive that was recently paved. All but three of the units are currently occupied, and rents are significantly below market rate, presenting an opportunity for major revenue growth. Further upside can potentially be unlocked by developing additional units on site - zoning density calculations suggest the ability to building another 12 units on the property. Full financials available upon request.
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Semmelhack
Lease Considered YN: No
Current Price: $1,716,000
Original List Price: 1695000
Sold Price: $1,716,000
Status: Closed
Listing Contract Date: 2025-05-24
Property Sub Type: Multi Family
Location, Tax, and Legal
911 Address: 420 Crescent Avenue, Highland, NY 12528
Township: Plattekill
School District: Highland Central Schools
General Tax: 10245
School Tax: 31044
Tax Annual Amount: 41289
Assessors Full Market Value: 1775862
Tax Assessed Value: 1030000
Parcel Number: 95.1-2-12
Tax Lot: 12
Tax Block: 2
Tax Exemptions YN: No
Zoning: AG 1.5
Zoning Description: Town of Plattekill AG 1.5 Zoning allows multi-family use.
Directions: North side of Crescent Avenue, midway between South Street and Pancake Hollow.
General Property Information
Number Of Units Total: 22
Above Grade Finished Area: 15000
Below Grade Finished Area: 0
Lot Size Acres: 31.9
Association YN: No
New Construction YN: No
Waterfront YN: No
Flood Plain YN: No
Sign On Property YN: No
Disclaimer: Information is believed to be accurate but not guaranteed.
List Price/SqFt: 113
Sold Price/SqFt: 114.4
Bedrooms Total: 24
Bathrooms Total: 23
Living Area: 15000
Year Built: 1972
Remarks and Miscellaneous
Public Remarks: Opportunity to acquire a large, well-located multi-family compound with tremendous upside potential. Originally built as a summer bungalow resort, the property features 32 acres of beautiful grounds with 9 individual buildings housing 22 residential units. These buildings include a 3BR single-family home (occupied by the current owners), a motel-like building with 6 studio apartments, a row building with 3 one-bedroom apartments, a two story building with 4 studio apartments, the original main house with 4 one-bedroom apartments, and 4 stand-alone one-bedroom cottages. There is one additional building that houses an on-site coin-operated laundry facility for the tenants. The grounds include mature shade trees, open lawns, wooded areas with stone walls and wild turkeys, and a large pond along the main entrance drive that was recently paved. All but three of the units are currently occupied, and rents are significantly below market rate, presenting an opportunity for major revenue growth. Further upside can potentially be unlocked by developing additional units on site - zoning density calculations suggest the ability to building another 12 units on the property. Full financials available upon request.
Status Change Information
Status Change Timestamp: 2025-08-06
Concessions: No
Buyer Financing: Cash
Major Change Timestamp: 2025-08-06T21:03:28Z
Major Change Type: Status Change
Purchase Contract Date: 2025-06-19
Close Date: 2025-08-06
Close Price: 1716000
Book Information
Liber/Book: 1247
Page: 1044
Section: 95.1
Location Tax and Legal
Street Number: 420
Street Name: Crescent
Street Suffix: Avenue
County: Ulster
State: NY
Zip Code: 12528
Town (Taxable): Plattekill
Property Features
Listing Courtesy of New Paltz Properties
Listing Agent: Matthew Eyler