50 Academy St, Poughkeepsie, NY 12601

Academy Street Development OpportunitynnMulti-Family + 2 Vacant Parcels | Value-Add + Redevelopment PotentialnnLocated in the heart of Downtown Poughkeepsies rapidly evolving corridor, this Academy Street offering presents a rare opportunity to acquire a multi-family property along with two adjoining vacant parcels, ideal for both immediate income and future development.nnThe existing multi-family structure features large residential units with strong rental potential, making it an attractive value-add investment. With renovations, this property can generate solid cash flow while providing a strategic hold for future expansion.nnWhat truly sets this offering apart are the two additional vacant parcels, creating a unique assemblage that opens the door to a variety of redevelopment possibilities. Whether expanding the current building, constructing new residential units, or creating a mixed-use concept, the flexibility here is a major advantage.nnSituated within the MU-5 (Mixed-Use 5) zoning district, the property allows for:nnMulti-family residential developmentnRetail, office, and service-based usesnPotential for up to 5 stories (with bonus height opportunities up to 7 stories)nnDevelopers and investors will appreciate the ability to maximize density in a high-demand rental market, all while being positioned near major amenities, transportation, and ongoing city revitalization efforts.nnAdditional highlights include:nnPrime downtown location near business district, courthouse