5 Bank St

Description

MOTIVATED SELLER! Exceptional Redevelopment Opportunity in the Heart of Monticello Commonly known as the historic “Masonic Building,” this impressive brick landmark was once home to the Monticello Masons and has long been recognized as one of the Village’s most distinctive architectural properties. Believed to have been constructed in the early 1900s, the building combines historic character, substantial square footage, and extensive renovation work already completed, creating an outstanding opportunity for an investor, developer, entrepreneur, or business owner with a vision for its future. The property offers approximately 13,680 square feet across three expansive floors, with each level containing approximately 4,560 square feet, plus a full basement providing significant additional space. The generous floor plates and substantial overall size provide tremendous flexibility for a variety of potential redevelopment plans. Considerable improvements have already been completed throughout the property. The basement features a newly poured concrete floor, while the original stone foundation walls have been repointed to improve water resistance. Additional upgrades include new sewer piping and a new hot water heater, along with numerous structural and interior improvements. Extensive renovation work has also been undertaken throughout the upper floors. New subflooring has been installed, old ceilings have been removed, structural reinforcements have been completed where necessary, and many rooms now feature new sheetrock. Much of the difficult preliminary work has already been started, providing the next owner with an excellent foundation from which to complete the property according to their own plans and vision. One of the building’s most impressive and distinctive features is the original Masonic meeting hall located on the top floor. This expansive open room remains in remarkably good condition and preserves much of the historic character and architectural presence that makes this building so unique. The space could potentially become a dramatic centerpiece of a future redevelopment. The property offers the potential for an exciting mixed-use redevelopment, with possibilities that may include retail, professional offices, restaurants, studios, service businesses, or other commercial uses on the lower level, together with multiple residential apartments on the upper floors, subject to applicable zoning, permits, and municipal approvals. The combination of commercial and residential possibilities provides an opportunity to create multiple potential income streams within one substantial property. Location further enhances the appeal. Situated just a few hundred feet from Broadway in the Village of Monticello, the property is within walking distance of shopping, restaurants, transportation, municipal services, and other Village amenities. Municipal parking is conveniently located nearby, adding another important benefit for potential commercial tenants, residents, customers, and visitors. With convenient access to the surrounding Sullivan County area and approximately 1½ hours from New York City, this historic property offers an increasingly rare combination of size, architectural character, redevelopment potential, and central Village location. With a motivated seller, substantial renovation work already completed, approximately 13,680 square feet plus a full basement, and tremendous mixed-use potential, the historic Masonic Building represents a unique opportunity to restore and reposition an important Monticello landmark while creating a potentially valuable income-producing investment for years to come.