315-317 Broadway
An unparalleled opportunity to anchor the revitalization of Newburgh's Broadway corridor
Marketing description
315 Broadway, Newburgh, NY 12550
Price: $399,999
The Park Theater: A 11,000+ SQ FT Visionary Project. An unparalleled opportunity to anchor the revitalization of Newburgh's Broadway corridor. The former Park Theater is now available for the first time in years, offering a massive footprint for a visionary developer. This property is situated in a key revitalization zone and is potentially eligible for significant government grants, making it a prime candidate for a high-impact mixed-use conversion, boutique hotel, or cultural hub.
Structure & Logistics:
- Massive Footprint: Just over 11,000 square feet of usable space across the main levels.
- Subterranean Potential: A full-height, dry basement offers an additional 8,000+ square feet for storage, mechanicals, or a creative "lower-level" commercial concept.
- Loading & Access: Features a functional internal loading dock, essential for logistics and construction.
- Parking: Rare dedicated parking area located in the rear of the building.
This is a "blank canvas" opportunity with the architectural bones that only a historic theater can provide. Bring your architect and your ambition to Newburgh’s most talked-about thoroughfare.
Investment highlights
Development & Restoration Grants: 315 Broadway, Newburgh
1. NY State Historic Homeownership Rehabilitation Tax Credit
If a portion of the building is developed as owner-occupied residential, this credit covers 25% of qualified rehabilitation costs, up to $50,000.
- Best For: Mixed-use projects where the owner lives on-site.
- Link: NY State Parks & Historic Preservation
2. Commercial Rehabilitation Tax Credit (Federal & State)
Since 315 Broadway has a rich commercial history (formerly a theater), it likely qualifies for the 20% Federal Tax Credit combined with the 20% NY State Tax Credit for income-producing historic properties.
- Best For: Large-scale commercial or multi-family rental conversions.
- Link: National Park Service - Federal Tax Credits
3. Newburgh Neighborhood Residential Grant (NNRG)
This is a local grant specifically for homeowners in the City of Newburgh to assist with exterior repairs and health/safety improvements.
- Best For: Immediate facade restoration and structural stabilization.
- Link: City of Newburgh - Community Development
4. Central Hudson Main Street Revitalization Grant
Central Hudson offers grants for businesses and developers who are revitalizing vacant or underutilized commercial buildings in urban centers like Newburgh.
- Best For: Interior build-outs and energy-efficient upgrades.
- Link: Central Hudson - Economic Development
5. NY Main Street (NYMS) Program
Administered through the NY State Homes and Community Renewal (HCR), this program provides funds for interior and exterior building renovations in downtown "Main Street" districts.
- Best For: Multi-use buildings that include a residential component.
- Link: NY State Homes & Community Renewal
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