How Do I Find an Empty Lot?
So I’d like to look into buying an empty lot to build on, preferably in Williamsburg. I keep reading news articles about failed projects that never began building there, and there now being a decent amount of empty lots in the area…and yet when I go on something like the NY Times real estate website…
So I’d like to look into buying an empty lot to build on, preferably in Williamsburg. I keep reading news articles about failed projects that never began building there, and there now being a decent amount of empty lots in the area…and yet when I go on something like the NY Times real estate website and search under “land,” only one parcel comes up.
Any advice on where else I can look for some actual listings? I even tried calling a broker, but he said he only does built properties. Before I start calling every broker in town, does anyone know an internet resource I can turn to?
Very much appreciated.
153 Quincy St The guy at 151 owns it and will probably sell for the right price
The Department of Finance ACRIS system allows you to search an address, that usually turns up an owner. The owner of a lot big enough for a condo development is likely to be a corporation formed specifically for that development, and tracking them down may be difficult. Just because a developer decided not to proceed with construction at this point in the economic cycle does not mean that they’re desperate to sell. Developers are likely holding on to property until the economy improves to the point where they can make a reasonable profit on a development.
Further point to consider, some foreclosed vacant lots may be so heavily mortgaged that the legal morass to obtain clear title will cost more to resolve than the block is worth. There is a lot on Sterling Place in Crown Heights that is like that.
That’s all extremely helpful. Thanks so much.
If I employ the shoe-leather approach (always a good one), any tips on backtracking and figuring out who the owner is, since most of them don’t have signs?
Find a dump not worth fixing, tear it down and have at it. Just note that demo permits are not easy…
Zillow.com or Trulia.com
Corcoran has had a sign on the lot next to Eddie’s forever.
Drive around the neighborhood you want to buy in and you’ll see a ton. Take addresses and go from there. Many have a For Sale by Owner sign on them and they want more than it’s worth.
Good luck- they’re probably all owned by developers by now. When the Williamsburg real estate market became hot developers were buying every piece of land you can think of. Your best bet is to buy large driveways or land adjacent to a residential owners property. Developers tend to want land in areas that are zoned for high rise/commercial zoning.
As S&L and BHO point out, nothing beats shoe-leather. I agree with Massey Knakal and CPEX Real Estate as commercial brokers to check; Kalmon Dolgin is another.
I don’t know how often it is updated, bu the Department of City Planning includes a land use map on the second page of every community district profile, available from http://www.nyc.gov/html/dcp/html/lucds/cdstart.shtml. Vacant land is mapped in black. You would, of course, then need to research ownership after that. Don’t be surprised if landl0rd’s observation proves accurate once you get as far as speaking with owners or brokers.