Selling Raw Land in Adirondack NY?

[Peter Freleng]

Hello BP

I'll start with I am new to real estate and very excited to learn. I also am new to bigger pockets so I may be posting this in the wrong place.

I am looking for help or advise, open to all suggestions and criticism 

Currently I have some land in Essex County Adirondacks region of NY that I am thinking of selling 2.5 acres of 5. 

It is raw land. But my partner and I have been working with the ADK Association for permits and subdivisions. Currently the property is subdivided, soil is perk tested, and there is a legal easement. My original plan was to build a small structure on the 5 acres we were working on. The next step for me would be to add a well. After my last camping trip on my property I had a long thought about this project. I noticed the neighborhood had changed and it was not the peaceful serene Adirondack vibe we had originally bought 10 years ago (I'll note that is also not a bustling area either. Very rural). I started to really think about the property and consider my next moves very carefully. Wells are an expense and Adirondack well drilling is a risky expense due to bedrock. 

After moving from Long Island to Westchester. I may have stumbled onto some properties that I might want to invest in down state instead, something I can rent out closer to home and start house hacking etc. I'll make a whole separate post for that. So I was considering the idea of selling some acres to use as a down payment for something like that. I should also mention one of the neighbors up there has expressed interest in on our land as well. He approached us a while back saying if we ever wanted to sell to let him know.

I do not have MLS access yet (in the process of getting my license) to run proper comps on the property in the Adirondacks. So I am looking for some help maybe from an agent that knows the area and can help on the lot in question. Maybe even help facilitate a deal. From what I found in my own research was the properties in the area that seem similar to me can range from 25k- over 75k.

Any advice or suggestions to a new young investor trying to get into expensive NY investing? Is this a good idea? Should I just continue on track to developing the land with a foundation, well, electric etc then sell for more? Again I'm new and not sure if this is accurate, so a professional weighing in would be greatly appreciated

Anyone interested in specifics of the land message me and I can share more details.

Thank you

-Peter