40 Academy StLiberty, NY

Offered for sale is Lenape at Glacier Falls, a 29-unit, five-story elevator apartment building of solid brick construction located in the Village of Liberty, Sullivan County, New York. The property presents a compelling value-add opportunity with demonstrated upside in a market insulated from rent regulation.

The Asset:

The building comprises 29 one-bedroom, one-bathroom units across five floors served by elevator. The property's key mechanical systems are in good shape — the roof is approximately 10 years old and in excellent condition, and the boiler has been well maintained. Common areas and a portion of the unit interiors present cosmetic improvement opportunities, consistent with the value-add profile of the offering. Ongoing capital improvement efforts include window replacements and unit renovations — featuring new cabinetry, countertops, and shower installations — completed on turnover, with additional units presenting remaining renovation upside. Residents benefit from onsite laundry facilities and adequate parking available across the street with a .44 acre parcel that is on a separate tax lot and is included in the purchase price. Trash removal costs are incorporated into the tax bill. Day-to-day operations are supported by a live-in superintendent and on-site assistant, providing responsive property management and a stable tenant experience.