238-240 Grand St, Newburgh, NY 12550

Building Details

Year Built

1890

Listing agent Lauren C. Racanelli Show Phone

Listing office l***@gmail.com Show Phone

Listing date Apr 24, 2026

Source Elliman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Lauren C. Racanelli

Report an issue

---

Overview

The property at 238–240 Grand Street is a six-unit multifamily investment with approval for a basement unit. Housed within a late-19th-century brick residence, the building features solid masonry walls, ornate cornice work, and classic proportions. Originally constructed as a grand single residence, it has been adapted into income-producing apartments while retaining its architectural character. The apartments feature wide window bays, generous ceiling heights, and substantial wall construction. From an investment standpoint, the asset delivers stabilized in-place income at a competitive cap rate, supported by a straightforward expense profile and proven tenancy. The structure’s load-bearing brick construction with wood-framed floors and roof offers long-term durability. The offering includes an adjacent lot used exclusively for off-street parking. Situated moments from the Newburgh Waterfront and key regional employers, the property benefits from consistent rental demand while offering investors ownership of a true historic asset. The bike score is 51, indicating it is bikeable, and the walk score is 86, indicating it is very walkable.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Newburgh

County

Orange

State

New York

Longitude

-74.0088562

Latitude

41.5080535

Nearby Similar for Sale

• 

  $889,999

  10,000 SF

  Professional Office and Medical Building

  Well-maintained building with three suites and dedicated entrances, supported by ample on-site parking and commercial zoning.

  4 Corwin Court, Newburgh, NY 12550

  View Details
• 

  $549,999

  2,400 SF

  Mixed-Use Building in Newburgh

  Mixed-use property with retail space and two apartments in Newburgh.

  402 Broadway, Newburgh, NY 12550

  View Details
• 

  $399,999

  11,000 SF

  Historic Newburgh Building on Broadway

  Iconic 11,000+ sq. ft. building ready for redevelopment.

  315 Broadway, Newburgh, NY 12550

  View Details
• 

  $899,000

  3,000 SF

  Newburgh Commercial Property For Sale

  Well-maintained 3-acre property with versatile structures and ample parking.

  1860 Route 300, Newburgh, NY 12550

  View Details
• 

  $550,000

  Newburgh Mixed-Use Investment Opportunity

  Residential/Commercial property with development potential in Newburgh, NY.

  788 Broadway, Newburgh, NY 12550

  View Details
• 

  $999,000

  Newburgh Commercial Building For Sale

  Commercial building for sale or lease in Newburgh, NY.

  150 Route 17K, Newburgh, NY 12550

  View Details
• 

  $1,895,000

  12,200 SF

  Professional Office/Medical Building For Sale

  12,200 SF office/medical building with expansion potential.

  31 Cerone Pl, Newburgh, NY 12550

  View Details
• 

  $1,200,000

  Newburgh Industrial Opportunity For Sale

  Prime industrial space with redevelopment potential in Newburgh, NY.

  25 Carpenter Avenue, Newburgh, NY 12550

  View Details
• 

  $469,000

  Spacious Newburgh Multi-Family Property

  Well-maintained two-family home with rental or owner-occupancy potential.

  27-28 Williamsburg Drive, Newburgh, NY 12550

  View Details
• 

  $799,000

  Newburgh Commercial Opportunity For Sale

  Commercial property with potential for dental or medical office.

  468 Gidney Avenue, Newburgh, NY 12550

  View Details
• 

  $499,000

  Renovated 3-Unit Residential Building

  Turnkey legal 3-family with three updated 2-bedroom apartments and electric heating and hot water systems.

  157 Chambers Street, Newburgh, NY 12550

  View Details
• 

  $475,000

  Flexible Multi-Use Office and Retail Ranch

  Move-in-ready ranch with two office suites, private annex entrance, parking, and 130+ feet of road frontage.

  169 N Plank Road, Newburgh, NY 12550

  View Details

FAQs

What type of property is this?

Apartment building - Historic multifamily property with income potential in Newburgh, NY.

Where is this apartment building located?

The property is located at 238-240 Grand St Newburgh, NY.

What is the asking price?

The asking price for this property is $1,199,999.

What are key features of this property?

This property features: Stabilized income‑producing property with a competitive cap rate and proven tenancy.; Includes an adjacent lot used exclusively for off‑street parking, a valuable amenity for tenant retention.; Located near the Newburgh Waterfront and key regional employers, ensuring consistent rental demand.