6 City of Newburgh Owned Properties Are For Sale, Should You Buy?
Maybe there are just too many shows on TV about saving homes, remodeling them, or even just knocking them down and starting all over again. Do you find yourself, thinking "I could do that!" While there is probably a thousand more things involved that no one has really thought of, there has to be a starting place, right?
Every once in awhile, there will be a Hudson Valley town or city, that has foreclosed properties that are for sale. Are they a good deal? Depends on the property. Will there be a building that needs to be repaired? Probably. Is there more involved than meets the eye? You can probably bet money on that.
So here are the properties that the City of Newburgh currently has listed for sale. There are currently six that are being sold directly through the City. Normally, when the City of Newburgh has these properties for sale, the transactions are completed through River Realty.
There are a few instances where the City's Planning and Development Department do it. There are a few differences (that I can tell) about the way the transactions would be done. The houses that are through a realty co appear to be in need of some major rehab, but they do at least have a structure, a roof and a floor. The properties that the City is selling directly, do not have a roof, are not in any way, shape or form actually habitable and look (from a laymen's eyes) like they need to be knocked down. The buyer (or potential buyer) needs to submit plans and budgets with their purchase requests to the City.
Those properties are as follows:
- 96 Carter Street
- 10 & 12 Van Ness Street (Sold together and will become on lot after the rehab)
- 16 William Street
- Water Street, Parcel B (This would need to be sold to a developer or project that connects it.)
- 58 William Street. The entire structure must be demolished.
- 40 William Street. For this lot, preference would be given to a neighboring property to include this in a new development.
So what do you think? Do you have the capital and the "what it takes" to make these properties shine again? Or do you think that the buildings should just be knocked down and become parking lots?