Location, Opportunity, and Unlimited Potential! Welcome to 1–3 Water Street - a rare chance to own the most iconic mixed-use property in New Paltz/Hudson Valley. This 4,260 sq ft building is set on a prime .22-acre lot with direct river frontage on the Wallkill River, offering unbeatable visibility, endless foot traffic, and direct access to the Rail Trail and River-to-Ridge Trail. This location could not be better: just steps to Water Street Market, surrounded by shops, restaurants, and all that downtown New Paltz has to offer. A brand-new boutique hotel is currently being built next door, ensuring even greater traffic and exposure for years to come. The property features a fully remodeled ground-floor commercial space, ideal for attracting both local clientele and year-round tourist business. Upstairs, you’ll find two residential apartments - a spacious 4-bedroom unit and a 2-bedroom unit - both sharing an expansive deck with breathtaking views of the Wallkill River and the Shawangunk Ridge. Bonus: this offering includes not just the building lot, but also a separate, buildable .41-acre lot across the street - currently used for parking & sculpture garden but, offering tremendous potential for future development. With riverfront access, incredible exposure, and unmatched location, the future of New Paltz is here. Own a true piece of the Village - the possibilities are endless!