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Research Outline
Prepared for Mattan G. | Delivered January 4, 2021
Rental Comps - Newburgh, NY
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Goals
To compare rent for commercial and residential spaces close to 32 Chambers St, Newburgh, NY 12550, before the pandemic and in the COVID-19 era.
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Early Findings
According to Trulia, 32 Chambers St, Newburgh, NY 12550, is a three story building with "
1200 square feet
on floor 3 and 2 and an additional 2600 square feet on the first floor."
The building is currently divided into five sections and is being used for professional and industrial purposes. It costs $
399,000 per Coldwel
l Banker.
RESIDENTIAL COMPS
Studio
109 South William Street - G3 ,
Newburgh, NY 12550
Size:
1100 sqft
Rent: $
1,400
/month
One Bedroom
The rent for a
750 sqft one bed,
one bath apartment in the neighborhood is $1,100 a month.
The rent for a 960 sqft one bed, one bath apartment in Newburgh, NY is
$1,300 per month.
Two Bedroom
The rent for a
2772 sqft two bed
, one bath apartment in the neighborhood is $1,400 per month.
A 1072 sqft two bed, two bad apartment is going for
$1,675 per month.
COMMERCIAL
Office spaces in the neighborhood go for
$11.70 sf/yr to $24.00 sf
/yr.
A 13,500 sqft flex building - mix of office and warehouse - in the area is going for $
16,031 per month.
The rent for an 86,000 sqft industrial property in the area is $
19,995 per mont
h.
SUMMARY
Within an initial hour of research, we were able to outline a list of some residential and commercial rentals in the area.
Please note that this hour of research focused on current rentals. There was not enough time to cover pre-COVID era rentals in the neighborhood.
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