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March 25, 2009
Ridiculous price for lot of land
There is a plot of land on the corner of 53rd st and 3rd avenue for sale. Last year some person bought this home, demolished it and I think started to build something. But all of a sudden it stopped. Now that same property is for sale. Doesnt it seem ridiculous for him to ask for 429k just for the lot?
http://www.trulia.com/property/1076368353--Brooklyn-NY-11220
What do you guys think is a "fair" price for just the land?
Suggestions wanted.
Comments
The address on it used to be 315 53rd street.
Posted by: guikazoid at March 25, 2009 11:38 PM
Looks to me like the FAR on the site is 2.43 thus allowing (absent any other constraints such as rear yard or height requirements, a building of 4,860 SF. The asking price would thus be equivalent to around $88 per buildable square foot. Might be about the right mark (in this economic environment) in the fringes of Park Slope but I think it's definitely too much in Sunset Park right next to the BQE. I'd say $50 per buildable SF was more like it, or around $250k.
Posted by: johnife at March 26, 2009 10:08 AM
This is why it's so expensive:
http://en.wikipedia.org/wiki/53rd_&_3rd
Posted by: annieny at March 26, 2009 9:21 PM
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