Heights Lot Sells for $1,500,000
It’s not often that a piece of vacant land trades hands in Brooklyn Heights, so it grabbed our attention when we noticed that the lot at 27 Cranberry Street had sold. The 25-by-100-foot lot sits on a quiet, leafy block at the northern end of The Heights. According to Property Shark, it comes with the…
It’s not often that a piece of vacant land trades hands in Brooklyn Heights, so it grabbed our attention when we noticed that the lot at 27 Cranberry Street had sold. The 25-by-100-foot lot sits on a quiet, leafy block at the northern end of The Heights. According to Property Shark, it comes with the right to build 6,145 feet of residential space. This puts the purchase price at just under $250 per buildable foot. That actually seems pretty reasonable to us given what a 6,000-square-foot townhouse in perfect condition would cost to build and what it would be worth on the open market. (13 Cranberry, for example, which is only 4,600 square feet, sold for $6,200,000 this summer.) What do you think? GMAP
Bring in Karl Fischer!!
Oh yes. This all sounds quite reasonable.
The price per buildable square foot is pretty reasonable for a 25-ft wide lot on Cranberry, no?
just because someone next door has lot line windows, doesn’t mean you are prevented from building to lot line.
It is the one on the lefts problem.
What’s the deal with the house to the left? Are those windows on the top floor? You can pretty much assume you are not building 25 feet wide.
“What do you think?”
I think it’s awesome that I live around the corner in a house built in 1820 and pay $900 a month.
Couldn’t they get a “carriage house” style building approved??? I don’t see why not but then you never know in NYC with all the bullshit.
If 13 Cranberry traded for $1,347 psf, and you can build high-end for $300-400 a foot, this makes sense for a high-end developer.
try to get LPC to approve garage though.