According to Key Properties of the Hudson Valley LLC, after a hard negotiation in this current economy, 50 Front St. was sold for $4.5 million.
Key Properties was the listing and selling agent of this property, consisting of a 132-slip marina, and two buildings with seven world class restaurants on the main floors, a day spa and various office tenants on the second floor, including Key Properties of the Hudson Valley.
Rich Pasiut, broker/owner of Key Properties was the agent on both sides. "I'm very glad to have represented this very desirable property and also to have located a quality group, with the where with all, to purchase it. This sale represents a new direction that this area, and Newburgh is heading to."
The new owners have plans for other developments close by that will enhance the waterfront, the area, and the city in general.
"I'm really pleased with what the buyers have shared with me for the future. It's all good news in times of so much negative news. There's hope and life in Newburgh, and I'm glad my office is right in the middle of it all," said Pasiut.
Key Properties of the Hudson Valley is a full service brokerage with it's headquarters on the river walk in Newburgh. Key Properties has a strong commercial presents in the tri-county area, plus a land development group, and an active group of residential agents. Visit their website at: www.KPHV.com Tags: