POUGHKEEPSIE – Chai Developers LLC has been purchasing landmark buildings in Poughkeepsie over the last few years and has recently added an iconic theater and warehouse to its real estate portfolio. In addition to owning the buildings that house Mahoney’s Irish Steakhouse and the Italian Center, the company recently closed on its purchase of the Chance Theater and the former Hudson Valley Office Furniture warehouse on the opposite side of Crannell Street.
Bernard “Berry” Kohn, the head of Chai, is also responsible for rehabilitating several multi-family buildings on Union Street and is now focusing his attention on the Main and Market Street area of Poughkeepsie. The developer, using several LLCs, has purchased most of the buildings on the east side of Market Street between Cannon and Main Streets, including the Bardavon building.
On Main Street, Kohn and associates are purchasing properties on the 300 block. At 316 Main Street, the investors are planning to construct an 80-unit apartment building. The Chance Theater will be closed for renovations at the end of October and they are currently seeking a management company for the theater that was originally built in 1900.
The seven-story warehouse was the home of Hudson Valley Office Furniture until they recently moved to Wappingers Falls. The new owners are considering plans to renovate the 53,000-square-foot building, dating back to 1840, into a boutique hotel.
