About 7 Canal Street
The Philmont Collection presents a rare opportunity to acquire a 36-unit multifamily portfolio encompassing nine buildings across seven tax lots in the heart of Philmont's National Register Historic District. Spanning approximately 26,606 square feet, the collection combines immediate scale, strong in-place cash flow, historic character, and meaningful redevelopment potential within one of the Hudson Valley's most closely watched village investment markets.
Strategically clustered within a few walkable blocks of one another, the portfolio includes seven stabilized income-producing assets together with two historic value-add buildings, creating a level of operational efficiency and market presence rarely available in a single acquisition. The collection comprises 36 residential units with 48 bedrooms and 28 bathrooms, offering a diverse mix of apartments and duplex residences that support broad tenant appeal and stable occupancy.
The stabilized core portfolio is projected to generate approximately $350,000-$360,000 in annual NOI, providing attractive current returns while preserving opportunities for future value enhancement. Ownership has invested substantially throughout the portfolio in capital improvements, infrastructure upgrades, and operational efficiencies designed to improve long-term performance and reduce operating costs.
A cornerstone asset within the collection, 62 Main Street has undergone extensive renovation, including updated residential units, restored facade improvements, enhanced insulation, conversion from central oil heat to individual electric systems, and renovated bathrooms. These improvements, together with portfolio-wide upgrades, position the collection as a well-maintained and professionally operated investment.
Current operations utilize the DoorLoop management platform for leasing, maintenance coordination, rent collection, tenant communication, applications, and screening, facilitating a seamless transition for future ownership.
The portfolio also includes the historic front and rear buildings at 7 Church Street, presenting a compelling redevelopment opportunity within Philmont's historic core. Subject to purchaser verification and approvals, these buildings may be eligible for substantial federal and New York State historic rehabilitation tax incentives, creating a potentially powerful avenue for future value creation and income growth.
Long appreciated for its architectural character and strategic location, Philmont continues to attract investors, entrepreneurs, artists, and designers drawn to its affordability relative to neighboring Hudson, its historic building stock, and its ongoing revitalization. Significant public and private investment, adaptive reuse projects, and preservation initiatives continue to strengthen the village's long-term trajectory.
Ideally situated just minutes from the Taconic State Parkway and approximately fifteen minutes from Hudson and Amtrak service to New York City, the portfolio enjoys convenient access to the Berkshires, Hawthorne Valley Farm, Art Omi, hiking trails, skiing, boating, waterfalls, acclaimed dining destinations, and the cultural amenities that define the Hudson Valley lifestyle.
Combining immediate income, operational scale, historic character, redevelopment potential, and an extraordinary village-wide footprint, The Philmont Collection represents a truly uncommon opportunity to establish a meaningful position within a growing and increasingly recognized Hudson Valley market.
MLS information reflects the primary parcel only. Seller reserves the right to sell individual assets or subsets of assets separately from the portfolio offering. Complete financial statements, rent rolls, parcel information, and supporting materials are available upon request. Annual tax amount reflects the entire portfolio.
