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Priced at $3,600,000, this 3.88-acre parcel of land in Monroe, New York, presents a development prospect for an apartment building project. Located at 139-145 St Rte 17M, the site benefits from its position within the Hudson Valley, a region defined by its proximity to the New York City metropolitan area and steady suburban growth. The property offers substantial acreage suited for residential density, aligning with the regional demand for multifamily housing in Monroe. Investors and developers can capitalize on this land to address local housing needs in a transit-accessible corridor. The site provides space for a mid-to-large-scale residential complex, leveraging the area's ongoing appeal to commuters and local families. This opportunity allows for the design and construction of apartment units within a well-established submarket, contributing to the regional housing inventory and potential long-term asset value.
Run the numbers on this deal. All calculations are estimates — verify with your lender and accountant.