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The Q3 Ulster County Commercial Real Estate Market Report outlines the performance of the commercial property market for the third quarter of 2024. It provides insights into property sales across key asset classes, highlighting significant transactions, pricing trends, and key performance metrics.

Key Statistics:

Total Sales Volume: $70,430,000

Number of Transactions: 7

Price Range: $1,250,000 to $19,500,000

Notable Transactions:

Hospitality:

Honors Haven Retreat & Conference Center (Ellenville): Sold for $19,500,000.

Price Per SF: $115.41

Price Per Room: $78,000

A 4-star hotel built in 1980 with 168,959 SF on 242.3 acres.

The Six Bells Inn (Rosendale): Sold for $1,680,000.

Price Per SF: $260.42

Price Per Room: $140,000

A 3-star, non-operating hotel built in 1850, renovated in 2025, spanning 6,451 SF on 1.03 acres.

Retail:

901 Frank Sottile Blvd (Lowe's) (Kingston): Sold for $19,372,248 ($148.99/SF).

A 3-star freestanding retail property in a power center.

Built in 1998 with 130,026 SF on 11.3 acres.

387 South St (Highland): Sold for $1,250,000 ($207.47/SF).

A 3-star retail restaurant property built in 1850, renovated in 2020, with 6,025 SF on 3.09 acres.

Multifamily:

30 Black Creek Rd (Highland): Sold for $7,500,000.

Price Per SF: $139.28

Price Per Unit: $138,889

A 2-star low-rise apartment property with 54 units on 8.76 acres.

Office:

701 Grant Ave (Lake Katrine): Sold for $4,000,000 ($12.94/SF).

A Class B office property with 309,120 SF on 14.6 acres.

Built in 1984, with high vacancy rates.

Market Observations:

Hospitality Sector:

Strong interest in high-value hospitality assets, with large retreats and smaller boutique hotels both attracting buyers.

High price per room values reflect premium location and renovation potential.

Retail Sector:

Freestanding retail and restaurant properties demonstrated strong demand, achieving high price per square foot values.

Multifamily Opportunities:

Apartment complexes remain attractive for their consistent rental income and redevelopment potential.

Office Assets:

Lower price per square foot values indicate challenges in the office market, particularly for high-vacancy properties.

Sale Price Ratios:

Sale prices varied, with some properties achieving over 100% of their asking price, reflecting strong market demand in specific sectors.

This report highlights the diverse investment opportunities in Ulster County’s commercial real estate market, emphasizing the potential for value-add investments across asset classes.

Please contact us if additional details or tailored insights are needed.

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The Q3 Dutchess County Commercial Real Estate Market Report highlights property sales across various asset classes, including retail, office, land, and multifamily properties. The report provides insights into transaction details, pricing trends, and market performance during the third quarter of 2024.

Key Statistics

Total Sales Volume: $44,217,500

Number of Transactions: 13

Price Range: $1,001,117 to $20,050,759

Notable Transactions

Retail:

3532 North Rd (Poughkeepsie): Sold for $20,050,759 ($308.47/SF).

A 4-star supermarket property in a power center with 65,000 SF on 24.9 acres. Built in 2023.

3 Maggiacomo Ln (Pleasant Valley): Sold for $4,787,500 ($106.08/SF).

A 2-star retail storefront property with 45,133 SF on 3.87 acres.

25 Winslow Gate Rd (Poughkeepsie): Sold for $3,716,786 ($250.02/SF).

A freestanding drug store with 14,866 SF on 7.25 acres in a power center. Built in 2023.

Office:

2 Summit Ct (Fishkill): Sold for $2,730,000 ($101.11/SF).

A 3-star office property with 27,000 SF on 2.24 acres. Built in 1990.

Land:

364 Main St (Beacon): Sold for $1,300,000 ($1,547,636/acre).

A commercial land parcel with 0.84 acres zoned for development.

Freestanding Retail:

737 Freedom Plains Rd (Poughkeepsie): Sold for $1,400,000 ($94.35/SF).

A 2-star retail building with 14,838 SF on 5.7 acres. Built in 1980.

Sale Price Ratios

The sale price-to-asking price ratio averaged 88.06%, reflecting moderate negotiation activity.

Data Breakdown by Asset Class

Retail Properties:

Accounted for the largest share of total sales volume, with properties achieving high price-per-square-foot values.

Office Properties:

Moderate pricing, with opportunities for redevelopment or operational improvements.

Land Parcels:

Demonstrated strong demand, particularly for parcels zoned for retail or mixed-use development.

Market Observations

Retail Sector:

Retail properties in power centers dominated high-value transactions, reflecting strong consumer activity in the region.

Land Development Opportunities:

Land sales like the parcel in Beacon indicate ongoing interest in development projects to support commercial growth.

Office Space Challenges:

The relatively low price per square foot for office spaces suggests subdued demand, possibly due to shifting work trends.

This report highlights Dutchess County’s diverse commercial real estate market, offering significant opportunities for investment across retail, land, and office properties.

Please contact us if additional details or tailored insights are needed.

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The Q3 Orange County Commercial Real Estate Report provides a comprehensive overview of property transactions across key sectors, including industrial, retail, multifamily, office, and land. This report highlights major sales, pricing trends, and property metrics to give investors insights into the market's performance during the third quarter of 2024.

Key Statistics:

Total Sales Volume: $51,698,950 (including sold and under-contract transactions).

Number of Transactions: 16 (7 sold, 9 under contract).

Price Range: $1,050,000 to $9,750,000.

Notable Transactions:

Industrial:

35 Mechanic St (Port Jervis): Sold for $2,750,000 ($68.75/SF).

A 2-star industrial warehouse with 40,000 SF on 1.8 acres. Built in 1970, renovated in 1984.

111 Forge Hill Rd (New Windsor): Sold for $1,100,000 ($70.30/SF).

A 2-star warehouse spanning 15,648 SF on 2 acres. Built in 1950.

Retail:

19 Hamilton St (Port Jervis): Sold for $1,500,000 ($315.19/SF).

A 3-star freestanding retail property with 4,759 SF on 0.11 acres. Built in 2000.

32-34 Main St (Warwick): Sold for $1,250,000 ($274.66/SF).

A 3-star retail restaurant property with 4,551 SF on 0.07 acres. Built in 1900.

Land:

32 Claire Dr (Monroe): Under contract for $9,449,000 ($167,833/acre).

56.3 acres zoned for redevelopment. On the market for 589 days.

245 State Route 17K (Newburgh): Under contract for $9,750,000 ($116,071/acre).

84 acres approved for a 273-unit development project.

Office:

384 Crystal Run Rd (Middletown): Sold for $2,450,000 ($101.58/SF).

A 3-star office/medical property with 24,120 SF on 4.8 acres. Built in 2009.

Multifamily:

2101 NY-17K (Montgomery): Under contract for $1,200,000 ($452.15/SF).

A single-family apartment property with 2,654 SF on 40 acres.

Sale Price Ratios:

Sale price-to-asking price ratios varied across asset types, with several properties exceeding expectations due to high demand.

Data Breakdown by Asset Class:

Retail Properties: Achieved some of the highest price per square foot values (up to $315.19/SF).

Land Sales: Dominated the higher price ranges, especially for approved development sites.

Industrial Assets: Consistently offered moderate pricing with opportunities for redevelopment.

Market Observations:

Industrial and Land Assets:

Represented the majority of high-value transactions, reflecting ongoing demand for logistics and development opportunities in Orange County.

Retail Sector:

Continues to attract strong investor interest, particularly in high-traffic locations like Port Jervis and New Windsor.

Development Opportunities:

Approved projects like the Stewart Commons in Newburgh indicate a focus on multifamily housing and mixed-use developments.

This report underscores Orange County’s dynamic commercial real estate market, offering diverse opportunities for investors across property types.

Please contact us if additional details or tailored insights are needed.

Key Highlights:

Overall Market Summary:

Total Sales Volume: $13,635,000

Number of Transactions: 7

Price Range: $1,050,000 to $2,910,000

Asset Classes Covered: Hospitality, Retail, Industrial, Multifamily, and Specialty

Notable Transactions:

Hospitality:

Slide Mountain Forest House Resort (Big Indian, NY)

Sale Price: $2,910,000

Price Per Room: $171,176

Building Size: 15,325 SF on 60.6 acres

Property Type: Bed and Breakfast (2-star)

General Retail:

5 Rock City Rd (Woodstock, NY)

Sale Price: $2,550,000

Price Per SF: $453.33

Cap Rate: 10.34%

Building Size: 5,625 SF

Flex Property:

135 N Chestnut St (New Paltz, NY)

Sale Price: $2,325,000

Price Per SF: $339.91

Cap Rate: 10.50%

Building Size: 6,840 SF

Industrial Property:

1711 Ulster Ave (Lake Katrine, NY)

Sale Price: $1,400,000

Price Per SF: $105.84

Building Size: 13,228 SF

Specialty:

410 Briggs Hwy (Ellenville, NY)

Sale Price: $1,600,000

Price Per SF: $421.27

Property Type: Trailer/Camper Park

Multifamily Property:

74-76 Cruickshank Rd (Big Indian, NY)

Sale Price: $1,050,000

Price Per Unit: $87,500

Building Size: 14,202 SF with 10 units

Market Observations:

Cap Rates:

The average cap rates for retail and flex properties ranged between 10.34% and 10.50%, indicating strong returns for investors.

Price Per Square Foot (SF):

Retail assets commanded the highest price per SF ($453.33), while industrial properties averaged $105.84 per SF.

Property Conditions:

Some assets were sold with deferred maintenance, offering potential value-add opportunities.

Zoning and Land Use:

Properties spanned a variety of zoning classifications, including commercial, residential, and specialty use, reflecting the diversity of opportunities in Ulster County.

Geographic Focus:

Key locations included Woodstock, New Paltz, Big Indian, Lake Katrine, and Ellenville, demonstrating a mix of rural and town-centered activity.

Insights for Investors:

Hospitality Assets: Continued demand for niche hospitality offerings in scenic locations like Big Indian.

Retail Properties: Strong pricing and cap rates highlight robust demand in Woodstock’s vibrant retail scene.

Industrial and Flex Spaces: Modest price per SF and room for operational enhancements make these properties appealing for long-term investment.

Multifamily Units: Lower price per unit suggests opportunities for redevelopment or repositioning in emerging neighborhoods.

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The Q2 Dutchess County Commercial Real Estate Market Report provides detailed insights into property transactions for the second quarter of 2024. This report highlights key asset classes, transaction trends, and investment opportunities across the region.

Key Statistics

Total Sales Volume: $16,350,500

Number of Transactions: 6

Price Range: $1,200,000 to $8,000,000

Notable Transactions

Retail:

246 Main St (Beacon): Sold for $1,900,500 ($325.15/SF).

A 3-star retail storefront built in 1870 with 5,845 SF on 0.08 acres.

Multifamily:

160 West Rd (Pleasant Valley): Sold for $8,000,000 ($190.48/SF or $166,667/unit).

A 2-star low-rise apartment complex built in 1985 with 48 units and 42,000 SF on 9.85 acres.

Land:

208 W Dover Rd (Pawling): Sold for $2,100,000 ($20,710/acre).

101.4 acres zoned R2 for residential development.

2736-2738 South Rd (Poughkeepsie): Sold for $1,400,000 ($569,104/acre).

2.46 acres of residential/multifamily land.

Industrial:

95 N Clinton St (Poughkeepsie): Sold for $1,750,000 ($205.88/SF).

A 2-star industrial warehouse built in 1993 with 8,500 SF on 0.74 acres.

85 Airport Dr (Wappingers Falls): Sold for $1,200,000 ($102.21/SF).

A 1-star industrial warehouse with 11,740 SF on 3.81 acres.

Market Observations

Multifamily Investments:

Multifamily properties such as Pleasant Valley Estates represent significant opportunities, with high price per unit values reflecting strong rental demand.

Land Development Potential:

Large land parcels like the 101.4-acre property in Pawling indicate ongoing interest in residential and mixed-use development projects.

Retail and Industrial Properties:

Retail storefronts in high-traffic areas continue to perform well, while industrial assets offer moderate pricing, suitable for value-add strategies.

Sale Price Ratios

The average sale price-to-asking price ratio for transactions was 84%, reflecting negotiated discounts across most property types.

This report underscores Dutchess County’s diverse commercial real estate landscape, with opportunities spanning residential development, multifamily rentals, and industrial assets.

Let us know if you’d like further analysis or tailored insights!

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The Q2 Dutchess County Commercial Real Estate Market Report provides detailed insights into property transactions for the second quarter of 2024. This report highlights key asset classes, transaction trends, and investment opportunities across the region.

Overview of Sold Properties

The report covers sales of industrial warehouses, multifamily apartments, retail storefronts, and land parcels.

Properties are analyzed using key metrics such as sale price, price per square foot, and price per acre.

Key Statistics

Total Sales Volume: $16,350,500

Number of Transactions: 6

Price Range: $1,200,000 to $8,000,000

Notable Transactions

Retail:

246 Main St (Beacon): Sold for $1,900,500 ($325.15/SF).

A 3-star retail storefront built in 1870 with 5,845 SF on 0.08 acres.

Multifamily:

160 West Rd (Pleasant Valley): Sold for $8,000,000 ($190.48/SF or $166,667/unit).

A 2-star low-rise apartment complex built in 1985 with 48 units and 42,000 SF on 9.85 acres.

Land:

208 W Dover Rd (Pawling): Sold for $2,100,000 ($20,710/acre).

101.4 acres zoned R2 for residential development.

2736-2738 South Rd (Poughkeepsie): Sold for $1,400,000 ($569,104/acre).

2.46 acres of residential/multifamily land.

Industrial:

95 N Clinton St (Poughkeepsie): Sold for $1,750,000 ($205.88/SF).

A 2-star industrial warehouse built in 1993 with 8,500 SF on 0.74 acres.

85 Airport Dr (Wappingers Falls): Sold for $1,200,000 ($102.21/SF).

A 1-star industrial warehouse with 11,740 SF on 3.81 acres.

Market Observations

Multifamily Investments:

Multifamily properties such as Pleasant Valley Estates represent significant opportunities, with high price per unit values reflecting strong rental demand.

Land Development Potential:

Large land parcels like the 101.4-acre property in Pawling indicate ongoing interest in residential and mixed-use development projects.

Retail and Industrial Properties:

Retail storefronts in high-traffic areas continue to perform well, while industrial assets offer moderate pricing, suitable for value-add strategies.

Sale Price Ratios

The average sale price-to-asking price ratio for transactions was 84%, reflecting negotiated discounts across most property types.

This report underscores Dutchess County’s diverse commercial real estate landscape, with opportunities spanning residential development, multifamily rentals, and industrial assets.

Let us know if you’d like further analysis or tailored insights!

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Properties include hospitality, self-storage facilities, garden apartments, retail service stations, industrial cold storage, and office buildings.

Sales are categorized by asset type, location, and key metrics like price per square foot and days on the market.

Key Statistics:

Total Sales Volume: $20,752,272

Number of Transactions: 7

Price Range: $1,350,000 to $4,017,324

Notable Transactions:

Hospitality:

85 Abeel St, Kingston: Sold for $1,350,000 ($340.05/SF). A 3-star hotel built in 1851, renovated in 2023, with 3,970 SF on 0.13 acres.

Office:

505 Boices Ln, Kingston: Sold for $3,400,000 ($32.39/SF). A 2-star office property built in 1985 and renovated in 2000, spanning 104,984 SF on 8.9 acres.

Retail Service Station:

1-5 Rudolph Rd, Modena: Sold for $3,500,000 ($1,794.87/SF). A general retail property with 1,950 SF on 0.9 acres.

Multi-Family:

2950 US-9W, Saugerties: Sold for $3,716,098 ($61,935/unit). A 4-star garden apartment complex with 60 units across 20,686 SF on 5 acres.

Industrial:

381 Vineyard Ave, Highland: Sold for $3,005,000 ($111.30/SF). A cold storage facility built in 1970 with 27,000 SF on 8 acres.

Sale Price Ratios:

Properties showed varied ratios of sale price to asking price, with some exceeding 100%.

Data Breakdown by Asset Class:

Hospitality, retail, and multi-family assets demonstrated higher price-per-square-foot values compared to office and industrial properties.

Market Observations:

Majority of the sales fell within the $1.5M to $4.9M range, accounting for over 85% of the total dollar volume.

A strong presence of properties in Ulster County, with a focus on Kingston, Saugerties, Highland, and Modena.

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The Q1 Dutchess County Commercial Real Estate Market Report offers a comprehensive analysis of property transactions for the first quarter of 2024. This report delves into major asset classes, regional transaction patterns, and emerging investment opportunities, providing valuable insights into the area's dynamic commercial real estate landscape.

Key Highlights:

Sales Overview:

Total sales volume reached $61.45 million across 16 transactions.

Property types included industrial, retail, sports & entertainment, multifamily, and specialty sectors.

Performance by Sector:

Industrial Properties: Sale prices ranged up to $1.45 million, with an average price of $24.88/SF.

General Retail: Notable sale included a property at $1.6 million, averaging $80/SF.

Sports & Entertainment: Properties averaged $70-$143/SF, with a peak sale of $5.7 million.

Multifamily Properties: Prices ranged from $70,370/unit to $133,333/unit, showcasing strong investor interest.

Specialty Properties: Included self-storage and other niche markets, with prices averaging $41-$111/SF.

Geographical Insights:

Key transactions were concentrated in Hyde Park, Wappingers Falls, Poughkeepsie, and Beacon.

Self-storage and multifamily properties stood out in high-demand areas like Hyde Park and Pleasant Valley.

Trends:

Multifamily and specialty properties exhibited strong price appreciation.

Cap rates were generally consistent across sectors, with industrial and retail properties offering steady returns.

Market Dynamics:

The data reflects ongoing investor interest in value-add opportunities and stable assets.

Portfolio sales played a significant role in shaping the market, particularly in specialty sectors like self-storage.

Let us know if you need more detailed insights on any specific aspect!

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The Q1 Orange County Commercial Real Estate Market Report offers a comprehensive analysis of property transactions for the first quarter of 2024. This report explores major asset classes, regional transaction patterns, and emerging investment opportunities, providing valuable insights into the county's dynamic commercial real estate landscape. Highlighting key sectors such as industrial, retail, office, and multifamily, the report showcases Orange County's continued growth and investor appeal.

Key Highlights

Sales Overview:

Total sales volume reached $112.04 million across 32 transactions.

Properties spanned office, industrial, retail, multifamily, hospitality, and land sectors.

Sector Performance:

Industrial Properties:

Significant transactions, including a $16.17M warehouse sale at $179.69/SF.

Average price per SF ranged from $58.12 to $364.01.

Office Sector:

Average sales price of $135–$205/SF, with key sales clustered in Goshen and Middletown.

Retail Sector:

Properties achieved cap rates of ~6.00%, with prices ranging from $160–$341/SF.

Multifamily:

High demand, with price per unit reaching $241,667.

Land Sales:

Ranged from $8,453 to $955,621/acre, demonstrating varied investor interest.

Geographical Insights:

Transactions concentrated in Middletown, Goshen, and Cornwall, reflecting growth in these areas.

High-value industrial and land sales occurred in Montgomery and Highland Mills.

Market Trends:

High investor interest in value-add opportunities and stabilized assets across sectors.

Land and industrial properties stood out for their high price appreciation and demand.

Conclusion

The Orange County commercial real estate market showed robust activity in Q1 2024, driven by industrial and land transactions. Multifamily and retail assets also attracted strong interest, reflecting diverse investment opportunities.

Let us know if you need detailed insights into specific sectors or transactions!