Creative Development Ideas needed

[Toni Morgan]

Hello Everyone

I'm new to the forum and I would appreciate any ideas for how to develop and use this property. I would appreciate any developers input but if anyone is from the NYC area that would be a bonus since you are more familiar with NYC real estate and its zoning which can be kind of unique.

I have the idea of building live/work loft in the warehouse with the possibility of renting them since the zoning is R6, or artist work lofts if that is not permitted or can not be rezoned (I'm not that familiar with how zoning works or how to get it changed information on that would be appreciated) and rehabbing the townhouses for rent to artist who could then rent the lofts space to work. Ideas for the lot space would be appreciated. This is my take on it.

I would like to hear from developers (from across the nation/world) on what you would do with a site like this. I am interested in going into development and I want to start thinking like a developer. I feel the best way to do that is to see what other developers would do with various types of properties so I will be posting again with different scenarios and asking lot of questions.

Also, if you are familiar with the NYC market what would you offer as a price for this if:
Poor condition? May need to be gutted and rebuilt
Fair condition? major renovation
Good condition? will need some renovation
I know this is vague and a property has to be looked at so a guesstumation (my made up word, meaning I guess the price could be...smile) would be appreciated.

This is the property:
Size 24,000
Price 0

Type Development
location NYC
Description 24,000 SF Development Site (240' X 100'), Includes Loft Warehouse, 80' X 100' Vacant Lot & 3 Townhouses, Total Buildings Size 46,010 SF, R6 Zoning, $30,086 Taxes. No Significant Leases in Place. Near Area's Major Institutions :idea: :idea: :D

Thank you for your input!

Sincerely
Beauty