MLS® ID: 72505553
274 High St
Holyoke, Massachusetts, 01040 $599,000
The Prudential or "The Prew" is an exciting turn-of-Century 8-story brick Victorian with elaborate cornices and high ceilings, and presents now as an exciting opportunity to make money with a touch of class. Immediately next to the most impressive city Hall edifice in Massachusetts, "the Prew" is the flagship building of Downtown Holyoke, an area of major recent investment. Eligible for National Historic Register and Federal Tax Credits, this is an economic improvement zone. Near Canal System with planned redevelopment use of federal funds as attractive urban center, the building is a walking distance to a brand new AMTRAK train station with enhanced service to NYC via Springfield. Substantial Tax benefits potentially include, but are not limited to: No real estate tax for ten years on improvements, 65% full exemption, decreasing over six years, and Federal income tax offset.