Little Falls Multifamily for Sale - Herkimer County
What if you were presented with a blank canvas to launch your next adventure …. a property located within the heart of Central NY …in the Little Falls Downtown Historic District…a city located an equal distance between the two metropolitan hubs of Albany and Syracuse.
What type of project would you create? Perhaps… a multi-family luxury lofts/apartments project, an entertainment venue, a specialty business venture, medical/professional offices, a hotel, a restaurant? but definitely…a mixed-use commercial property. The sky really is the limit!
Let me introduce you to 2 West Main Street… Your blank canvas! This intriguing redevelopment opportunity is centered on one of the most prominent streets within the city of Little Falls …Main Street USA!!! This area is an up-and-coming mix-use destination filled with dining, taverns, antique shopping, cafes, coffee shops, florists, specialty gift shops…and the center for notable annual festivals. The City of Little Falls is steeped in Central New York History and was once a major industrial center. Many of the magnificent masonry buildings fortunately, remain in the area, just waiting to be repurposed, and re imagined.
Notably known as ‘The Snyder Building’, the structure was set up as 40 apartments with a regal entrance, the likes seen in Manhattan. There are 7 storefronts…2 with long term tenants and the others awaiting reimagination. The building is set up as follows: 7 storefronts on the main level…4 floors of 10 apartments each…and the top floor open. There is a basement in this building holding additional storage space and utility placements.
The sellers of the building had a vision of creating 6 luxury condos within the 4 story apartment spaces, a conference, or ballroom on the top level and fully functional commercial options on the main level. The views from the building windows are incredible!
Unfortunately, unforeseen turn of events occurred, and the construction had to be halted. Currently, the building is mostly gutted, but prepared for a new vision by the next owner.
In December 2021, Little Falls was selected to receive $10 million in grant funding to implement transformative capital projects in its downtown area as part of Round Five of the Downtown Revitalization Initiative (DRI). The DRI is a New York State grant program designed to catalyze public and private investment in urban centers with significant opportunities for redevelopment, business growth, job creation, and an improved quality of life for all.
Little Falls’ DRI will focus on reconnecting its Downtown Main Street to its waterfront along the Mohawk River and historic Canal District. As the only city in Herkimer County, Little Falls envisions itself as the most desirable residential community in the region by reconnecting isolated parts of the city to create a single, cohesive downtown district. The City has experienced approximately $11.6 million in recent and ongoing investments and anticipates another $76.8 million in the future. These investments include new apartment housing, a bourbon distilling site, and a proposed new train station providing passenger service. Building on this momentum, Little Falls aims to us the DRI to diversify housing, improve multi-modal connectivity, and enhance the quality of life for all residents.
As a mixed commercial area, creative minded developers are sought to purchase and redevelop this 46,000 plus, Sq. foot building with its 6 stories of mostly open space and high ceilings. This property offers gas, sewer and electric utilities, oversized openings, and elevator shaft in place. Originally built in the late 1920’s for hotel, living and commercial spaces, much of the existing infrastructure may be re-utilized, depending on the project. The seller has done extensive work on the building to ensure structural stability.
The city of Little Falls is committed to streamlining the approval process for developers, encouraging creative design, and looking for ways to incentivize investment in the area.
2 to 8 west main street sets close to the numerous city parks and the Vibrant Canal Park community which also boasts: The Canal Side Inn, The Inn at Stone Mill, and the Antique Center. Little Falls is a very walkable community with an award-winning school system and an abundance of shopping and cultural events.
Developers are already taking notice of the district’s proximity to existing and future attractions and have launched several projects nearby. Central New York is ripe for big things to happen, and the momentum has started 20 minutes down the road in Utica! The new MVHS Hospital opens soon, Wolfspeed has built their facility on one of 3 ‘shovel ready’ chip sites, NANO…and the ancillary businesses associated with this growth are here!
With a strong interest in the revitalizing of Little Falls, properties like the Snyder Building will not stay on the market long. Bring your vision to Historic Little Falls New York and develop a memorable legacy for the future generations to enjoy.
Text or Call Robin Mongeau of River Hills Properties, LLC today and learn more about this exciting redevelopment opportunity. Check out our Asteroom link detailing the floor plans of the building.
https://www.asteroom.com/pviewer?hideleadgen=1&token=V2HcCJB-YkOLlWlvgMwbhA
