12-24 North Main St, Gloversville, NY 12078
sale
$349,999
|
Other
Courtesy Of WOLF RIVER REAL ESTATE LLC
Exceptional opportunity to acquire a historic, multi-building property in the heart of downtown Gloversville, complete with a **secured $750,000 grant already in place** and located within a designated **Opportunity Zone**, offering substantial financial advantages and long-term upside for investors and developers alike. This rare offering includes three separate buildings, formerly operating as a bank, and presents a compelling combination of historic character, existing improvements, and significant redevelopment potential. Original architectural features remain intact, including safety deposit boxes and a bank vault-creating a distinctive foundation for a variety of adaptive reuse concepts. A portion of the property has already undergone renovation, with select first- and second-floor spaces improved into professional offices. These completed areas provide immediate usability and potential income generation while additional phases of the project are completed. The main bank building features an expansive open interior with soaring ceilings, a large skylight that fills the space with natural light, classic architectural details, and a mezzanine level. This dramatic space offers flexibility for a wide range of potential uses, including but not limited to a brewery, restaurant, event venue, co-working hub, or mixed-use development (subject to municipal approvals). The scale and character of the building create a standout opportunity for a visionary redevelopment. The **$750,000 grant already secured** provides immediate financial relief toward renovation costs-effectively lowering the acquisition basis and increasing overall project feasibility. In addition, buyers may explore **additional funding opportunities** through programs such as the Gloversville Revitalization Improvement Program (GRIP) and New York State's Downtown Revitalization Initiative (DRI). Gloversville has been awarded $10 million through the DRI to support transformative downtown projects focused on economic development, public space enhancements, and expanded housing opportunities. The property also presents potential for residential conversion, including apartment development or a mixed-use configuration, subject to municipal approvals. To support residential use, acquisition of a nearby parking lot would be required-offering an additional avenue to enhance value and long-term income potential. Exterior improvements are needed, particularly to portions of the front façade and flat roof, allowing the next owner to implement upgrades and tailor the property to their vision. Positioned within an **Opportunity Zone**, investors may benefit from potential tax advantages, including deferral and reduction of capital gains, further strengthening the financial appeal of this project. With a substantial grant already secured, access to additional funding programs, Opportunity Zone incentives, and a prime downtown location, this property represents a unique chance to participate in the continued revitalization of Gloversville. A rare offering where you are stepping into a project with **significant financial support already in place-enhancing feasibility, reducing risk, and maximizing upside potential.** Property Brochure available upon request
Read More About This Property
Read Less About This Property
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 0
- Cooling System: Central Air
- Exterior Type: Brick
- Floor Covering: Tile
- Floor Covering: Carpet
- Floors: 3
- Heating System: Forced Air
- Heating System: Natural Gas
- MLSID: 11686310
- Roof Type: Flat
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
- View Type: City
Data powered by Attom Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$339,999
Other
29 W Fulton
Gloversville, NY 12078
Building: 10,019 sq. ft.
|
Land: 0.23 Acres
Courtesy Of EXP REALTY
sale
$275,000
Other
39 N Main Street
Gloversville, NY 12078
Building: 12,654 sq. ft.
|
Land: 0.15 Acres
Courtesy Of KW Platform
sale
$250,000
Other
35-37 N Main Street
Gloversville, NY 12078
Building: 8,295 sq. ft.
|
Land: 0.13 Acres
Courtesy Of KW Platform