Description
A rare opportunity to acquire approximately 36 acres of income-producing lakefront property justone hour north of New York City, with convenient access by both car and Metro-North. The property combines immediate cash flow, substantial acreage, recreational appeal, andsignificant long-term development potential. The compound includes 11 homes, a fully on-grid tiny house, and an Argosy camper. The ownerholds six of the homes outright, while five additional homes occupy the property under landleases. Together, these assets generate both residential rental income and recurring land-leaserevenue. When fully occupied, the property produces a 7.5% capitalization rate, offeringinvestors a turn-key opportunity with established income from day one. All current tenants areon month-to-month leases allowing for maximum flexibility for the new owner. The property also presents a compelling opportunity for an owner-user seeking a privateHudson Valley retreat. An owner could create an expansive upstate compound where family andfriends gather for weekends of boating, hiking, and outdoor recreation, while the existing homesand land leases help offset the cost of ownership. The acreage also provides ample space todevelop a private estate or multi-generational family compound. The current owners use the house at 47 Rock Rd, along with the attached 'glampground' as aprivate getaway from the city. They have spent years clearing and beautifying the land, includingplanting ornamental cherry trees throughout the property. Spring hikes, huge outdoor gatheringsin summer, camping in fall, sledding in winter, they use the property as a year-round destinationfor friends and family. The property is offered 100% turn-key - the tiny home, RV, plow truck, and UTV all convey withthe sale. Rolling hills, mature landscaping, scenic trails, and the natural beauty of Lake Gilead surroundthe property. The setting offers exceptional privacy while remaining remarkably accessible toNew York City - close enough for spontaneous weekends and extended stays, yet secludedenough to feel like a true escape. Generate income today. Create additional value tomorrow. This lakefront Hudson Valleycompound gives its next owner the flexibility to operate it as an income-producing investment,pursue future development, create a private retreat, or combine all three.
Details
| MLS # | 1037855 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 70 |
| Listing Provided By | Corcoran Country Living | Nicholas Sten |
Features
| Zoning | R |
|---|---|
| Acreage | 35.60 |
| Water Front | Yes |
Exterior
| Lot Features | Views, Waterfront, Wooded |
|---|
Utilities
| Sewer | Septic Tank |
|---|
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Assessed Value | 136200 |
| Tax Annual Amount | 38522 |
Area Information
| State | NY |
|---|---|
| County | Putnam County |
| City | Carmel |
| Zip Code | 10512 |
| School District | Carmel High School |
| Elementary School | Kent Primary |
| High School | Carmel High School |
| Listing VS Median (in 10512) | |
Price: $2,350,000 low | high Med: $585,000 On site: 70 low | high Med: 174 | |
Market Activity 10512
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Learn More About This Property
| State | NY |
|---|---|
| County | Putnam County |
| City | Carmel |
| Zip Code | 10512 |
| School District | Carmel High School |
| Elementary School | Kent Primary |
| High School | Carmel High School |
| Listing VS Median (in 10512) | |
Price: $2,350,000 low | high Med: $585,000 On site: 70 low | high Med: 174 | |
270 Main Street
Cornwall, NY 12518
845-534-7874
Hours of Operation
Specializing in Buying and
Selling Real Estate in Cornwall,
NY and surrounding areas.
Fair House Notice
SOP for Purchasers of Real Estate
