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Office

NY State Credit (AA+ S&P) Single Tenant Government Office Leasehold

563 Reed St, New Windsor, NY 12553

Listing Price: $7,037,640

Cap Rate
7.50%
Gross SF
25,272
Rentable SF
25,272
Price/Gross SF
$278.48
Lot Size
1.20 acres
Year Built
1942

Investment Overview

Marcus & Millichap is pleased to bring to market the New York State Department of Corrections and Community Supervision building located in New Windsor, New York.

Investment Highlights

  • New York State Government Leasehold Interest with Over Seven Years Remaining on the Leasehold and Over 75 Years Remaining On the Ground Lease with The Town of New Windsor
  • Recent Renovations Include a New Roof, Furnaces, Fire Alarm Systems and an Interior Renovation Completed in 2021
  • Property is Fully Occupied by New York State Department of Corrections and Community Supervision as a Corporate Housing Facility
  • Three-Story Dormitory Building Features Masonry Construction with a Large Rear Parking Lot
  • Situated Adjacent to New York Stewart International Airport, a Regional Airport Operated by the New York, New Jersey Port Authority Connecting to Newark, JFK and La Guardia International Airports
  • Located in a Dense Office, Industrial and Logistics Corridor with Easy Access to the I-84/I-87 Interchange
  • Strong Demographics: Population Exceeds 200,000 Within 10-Miles and is Projected to Increase by 2027 | Average Household Income Exceeds $103,000 Within Five-Miles
  • New Windsor is One Hour From New York City and 90 Minutes from Albany, New York

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311204479

    New York

Financing By

Office

NY State Credit (AA+ S&P) Single Tenant Government Office Leasehold

Listing Price: $7,037,640

Cap Rate
7.50%
Gross SF
25,272
Rentable SF
25,272
Price/Gross SF
$278.48
Lot Size
1.20 acres
Year Built
1942

Investment Highlights

  • New York State Government Leasehold Interest with Over Seven Years Remaining on the Leasehold and Over 75 Years Remaining On the Ground Lease with The Town of New Windsor
  • Recent Renovations Include a New Roof, Furnaces, Fire Alarm Systems and an Interior Renovation Completed in 2021
  • Property is Fully Occupied by New York State Department of Corrections and Community Supervision as a Corporate Housing Facility
  • Three-Story Dormitory Building Features Masonry Construction with a Large Rear Parking Lot
  • Situated Adjacent to New York Stewart International Airport, a Regional Airport Operated by the New York, New Jersey Port Authority Connecting to Newark, JFK and La Guardia International Airports
  • Located in a Dense Office, Industrial and Logistics Corridor with Easy Access to the I-84/I-87 Interchange
  • Strong Demographics: Population Exceeds 200,000 Within 10-Miles and is Projected to Increase by 2027 | Average Household Income Exceeds $103,000 Within Five-Miles
  • New Windsor is One Hour From New York City and 90 Minutes from Albany, New York

Investment Overview

Marcus & Millichap is pleased to bring to market the New York State Department of Corrections and Community Supervision building located in New Windsor, New York.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s): NY: 10311204479

    New York

Financing By

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