7 Canal Street

Description

The Philmont Collection combines established rental income, historic architecture and redevelopment potential in the heart of Philmont village. Encompassing nine buildings across eight tax parcels, the portfolio offers a substantial village footprint, with properties clustered within a few walkable blocks of one another. Ownership reports 27 existing apartments across seven buildings at 62 Main Street, 20 Church Street, 5 Church Street, 3 Church Street, 3 Elm Street, 7 Canal Street and 5 Elm Street. Nineteen apartments are currently leased, providing in-place rental income with opportunities to increase occupancy through leasing and completion of make-ready work. Capital improvements throughout the portfolio include extensive work at 62 Main Street: updated apartments and bathrooms, façade restoration, insulation improvements and conversion from central oil heating to individual electric systems. Current operations use DoorLoop for leasing, rent collection, maintenance coordination and tenant communications. Two additional vacant buildings at 7 Church Street offer a distinct rehabilitation opportunity. The historic front building features a round tower, curved porch and period architectural details. Behind it stands an unfinished shell without interior walls or plumbing. Both buildings require rehabilitation and are excluded from the 27-apartment count. Future uses and unit configurations are subject to purchaser verification and required approvals. The collection’s concentrated location supports convenient management while placing residents within Philmont’s historic village core, with access to Hudson, Amtrak, the Taconic State Parkway and the Hudson Valley’s dining, cultural destinations and outdoor recreation. Offering existing income, opportunities to improve occupancy and additional redevelopment potential, The Philmont Collection provides several paths for investment within an established Hudson Valley village. Offered as a complete portfolio; individual properties or subsets may also be considered. Financial statements, rent rolls, parcel information and supporting materials are available upon request. Unit and occupancy counts are ownership-reported, and occupancy is subject to change. Purchasers should independently verify permitted unit configurations, rental status, registrations, square footage, financial performance and redevelopment approvals. MLS property fields reflect the primary parcel except where otherwise indicated; the annual tax amount reflects the entire portfolio.