Is this your property? Sell it faster with premium placement and targeted ads.
Unimproved Land - Poughkeepsie, NY
50 Academy Street, Poughkeepsie, NY 12601
Price: $2,900,000 | 4-Unit Apartment Building | Redevelopment Opportunity
Located in the heart of Poughkeepsie’s rapidly growing Innovation District, 50 Academy Street offers an exceptional mixed-use redevelopment opportunity. This 4-unit, 2-story, 2,800-square-foot apartment building sits on 1.11 acres across 11 parcels, making it one of the largest assemblages available in downtown Poughkeepsie. With its strategic location, flexible zoning, and strong demand for residential rentals, this property is ideal for developers seeking to capitalize on Poughkeepsie’s continued growth and revitalization.
Zoning & Development Potential
The property is zoned PID-B (Poughkeepsie Innovation District B) and MU-5 (Mixed-Use 5), offering high-density residential and commercial development potential.
PID-B Zoning: Allows up to 9 stories (120 ft) with affordable hous...
PID-B Zoning: Allows up to 9 stories (120 ft) with affordable housing inclusion
MU-5 Zoning: Allows up to 7 stories (94 ft) with affordable housing inclusion
Permitted Uses: Multifamily residential, retail, office, hospitality, medical, live-work housing, student housing, performing arts, and food service
No Historic Restrictions: The property is not located within a City Historic District
Several conceptual massing studies by Tinkelman Architecture demonstrate the site’s potential:
Option A: 35 residential units / 26 parking spaces
Option B: 55 residential units / 28 parking spaces
Option C: 76 residential units / 52 parking spaces
Option D: 116 residential units / 49 parking spaces
This flexibility makes it ideal for mixed-use, multifamily, or residential redevelopment.
Parking & Incentives
The site offers on-site parking design flexibility, including the potential for a Planning Board waiver or fee-in-lieu of parking. Additionally, it is adjacent to a municipal parking lot at 50 Cannon Street, providing 210+ spaces within 50 feet.
The City of Poughkeepsie supports development in its Innovation District, creating potential opportunities for incentives and streamlined planning approvals.
Prime Downtown Location
Centrally located, 50 Academy Street is within walking distance to:
Restaurants, cafés, and boutique shops
Art centers and the historic Barrett Art Center
Vassar Brothers Medical Center, a major employer in the area
The property also offers easy access to major transportation routes, including Route 9, the Mid-Hudson Bridge, and Metro-North Railroad, connecting Poughkeepsie to New York City and surrounding Hudson Valley communities.
Investment Highlights
Prime urban infill location in a growing downtown market
High-density development as-of-right with significant bonus potential
Strong residential rental demand in Poughkeepsie’s revitalized core
Flexible mixed-use zoning for a variety of income-producing options
This is a rare opportunity to acquire a large, strategically located parcel with unmatched redevelopment potential in one of the Hudson Valley’s most dynamic growth markets.
Copyright © 2025 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
From elevation to risk assessment
Search for detailed parcel information including; Elevation & Vegetation Maps, Ownership Information, Detailed Parcel Information, Crop History Map, Soil Survey Productivity Data, and more.
Research Parcel InformationIs this your property? Sell it faster with premium placement and targeted ads.