Seraphim Equities, a family-owned real estate investment company, have made themselves known to the City of Newburgh at the end of 2020 with community events and real estate plans that focused on restoration instead of renovation. However, they’ve been behind the scenes in Newburgh since late 2018 and now their plans are now being put into action with a revitalization of Broadway, starting at 150-166 Broadway.

The restoration project will consist of eight adjoining parcels with five existing structures. The existing structures total 18 units – 13 of which are residential and the remaining commercial storefronts. Already, the interior apartments are near completion. Exterior restoration will begin in mid-April and will include new black aluminum clad windows, new store fronts, masonry and brick work, and repainting and refinishing of existing cornices and gables.

The available commercial spaces are on the market, with the residential units planned to come on the market in coming weeks. Although residents have expressed concern for prices of new apartments coming on the market, Seraphim Equities stated that the pricing will be “within the averages they have seen throughout Newburgh.”

“Our goal is to create housing for the existing community,” wrote Seraphim Equities in an email.

When it comes to the vacant lots on this block, Seraphim Equities plans to utilize them for outdoor seating and event/activity space for tenants that will occupy the commercial storefronts of 158 Broadway.

“Ideally, we would like to see a unique concept that will offer food and beverages and an opportunity for friends and family to gather,” wrote Seraphim Equities. “In this new landscape that has been carved out by the pandemic, there is a heightened demand for outdoor-driven, socially distant events and activities so we are excited to see a much-needed space like this come to life.”

They have been consistently working with Newburgh residents to better understand what occupants would be best for these commercial spaces to serve the community’s needs. So far, they have seen interest from “young, ambitious individuals who have passions in all spectrums of the retail market and are looking to launch a vision.” This includes interest from beauty shops, food establishments, fashion boutiques and others.

Through investing a lot of resources and capital into the exterior of these buildings, they hope to create a unique environment for both those who already reside here and tourists alike.

“If the buildings aren’t restored, they’ll begin to collapse so we are putting our efforts into preserving not only Newburgh’s buildings, but also the city’s rich history,” wrote Seraphim Equities.

Seraphim Equities is also working on another exciting project at 112 Broadway, which is located at the corner of Broadway and Chambers street. This development will be a 9-unit mixed-use property, “which is mainly residential but incorporates commercial components as well.”

Simultaneously, Seraphim Equities is working in conjunction with Monticello artist Josh Detichman, who painted a mural at 181 Broadway. The mural “celebrates diversity, as well as the area’s incredible natural resources, featuring the face of a beautiful woman surrounded by the images of the four seasons of the Hudson Valley.” Detichman’s artwork is only the tip of the iceberg for what else Seraphim Equities has planned mural wise. Residents will be excited to know that the first ever Hudson Valley Hype Mural Festival in Newburgh will be held this summer, tentatively planned for the end of June. The festival will “give Newburgh walls a voice.” For more information, contact Megan Prives, Marketing & Creative at Seraphim Equities, at megan@seraphimequities.com with any inquiries about the project or interest in collaborating.

To learn more about Seraphim Equities and their restoration plans, visit seraphimequities.com. Interested tenants can reach out to Laura Saurez from Newburgh Realty Group at laurasuarezrealtor@gmail.com.