Redevelopment opportunity of 11.85 acres with 18 buildings, within a 9-minute drive of Windham Mountain and a 13-minute drive of Hunter Mountain. Priced at $550K with proforma 6.9% cap rate (as-of-right pre-existing use). Formerly known as the Sunny Crest Villa Resort & Hotel. The adjoining 65.11 acres is now owned by the City of New York. Multiple redevelopment options for the plot: 1) Rebuild upon the existing foundations of existing 18 buildings. Some buildings are habitable, others not: complete renovations needed. The services (propane, septic, electric) are hooked up to each building, but the condition of septic is questionable. Some salvageable. 2) Subdivide the land and build, the underlying zoning is now (RR) Rural Residential (1 unit per 2.5 acres) so you could submit a plan to subdivide and build up to four homes as of right. 3) The building dept and planning board have explained they're amenable to any use, including short-term rentals. Seeking tax dollars.
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