Titusville Rd Poughkeepsie, NY 12603

Property Details for 0 Titusville Rd

Lot size

149.00 lot acres

Property type

Land

Description

This exceptional 149-acre parcel in Lagrange, Dutchess County, NY, presents a remarkable development opportunity. Fully approved for a 136-lot subdivision, this property is poised for immediate development, with infrastructure improvements anticipated to commence in Summer 2022, leading to construction starting early 2023. The meticulously planned subdivision includes 51 single-family lots (0.5-1 acre), 9 estate lots (1.5-8 acres), and 76 townhomes, all connected to municipal water and sewer. Located on Titusville Road, between Noxon Road and Daley Road, this highly sought-after location offers unparalleled convenience. Its proximity to the Taconic State Parkway, Metro-North train, and Amtrak makes it ideal for commuters. Furthermore, its adjacency to the Dutchess Rail Trail, part of the Empire Trail system, adds significant recreational appeal. The area boasts a strong employment base, with nearby employers including IBM, Nuvance Medical Center, Marist College, Vassar College, and the Culinary Institute of America. The asking price is $10,000,000, translating to $67,114 per acre. This investment benefits from a significant inventory shortage in Dutchess County, with resale inventory down 14% from Q1 2021 to Q2 2022, and high absorption rates in nearby subdivisions. The property falls within the Arlington School District and has an estimated tax rate of 3.4% per $1,000. Local average new construction price per foot (2021-2022) is $242. This development directly addresses the underserved demand for new single-family homes and townhomes in the area. The nearest comparable offering is approximately 3 miles away.

Location Insight

City

Poughkeepsie

County

Dutchess

State

New York

Longitude

-73.8455

Latitude

41.6639