$5,000,000

Rare Monsey redevelopment opportunity! Rare Monsey institutional and redevelopment opportunity at 21 Rita Avenue. This historic property offers an exceptional setting to establish and grow in the heart of Monsey. This renovated brick building of useable 2 floors with a basement currently operates and includes a main floor, bathrooms, coffee room and complete amenities. Additional features include classrooms, a lunchroom, a functional bakery and kiosk and much more. Each complete floor contains approximately 2,500 square feet. The property provides the foundation for building a complete under one roof, with space for daily activities. The second floor consists entirely of finished income-producing offices, providing immediate rental revenue. Construction has also begun on the third floor, with the exterior walls already erected and the roof and remaining interior work ready to be completed. The existing building does not maximize the property’s full potential. Additional buildable area may be available in front of the building, creating significant possibilities for expansion or redevelopment. The property is legal for school, commercial, and educational uses. Residential zoning also permits sleeping accommodations, offering further flexibility for institutional or residential occupancy.  A buyer may continue operating the existing, develop a larger campus, complete the third floor, or explore a broader redevelopment, including potential multifamily residential use. Major multifamily residential use redevelopment potential with an approximately 45' × 100' buildable floor plate, approximately 4,500 square feet per level, with the potential for three floors plus a full basement totaling approximately 18,000 square feet. This is a unique opportunity to acquire a renovated, income-producing property with deep roots in Monsey’s history and substantial future potential.