Propose potential location for luxury home development?

[Giani Brussich]

Hi all,

This is more like is this reasonable or feasible? I wanted to ask the community if these seems like something that could be done and the work just need to be done. i mostly want someone to be like yes, that would work or no, delete this post.

ok, here are the details

- There is a local lot, in Westchester County, NY that is just shy of 10 acres. I do not own the lot and currently do not have funds to purchase the lot.

- It is currently being sold by a broker with an asking price of 950K but has been sitting for a while. It seems raised up and mostly level but would require some leveling. I do not know about electric or anything else.

- Neighboring comps are in the 1m+ range.

- Based on comps and surrounding neighborhood, i would think a developer could build 3-4 luxury homes, roughly 3500-4500+ sqft with 1.5-2acre lots. Make it a cul-de-sac and I estimate, could sell each for roughly 2.5 to 3 million each.

Is this a pipe dream? is there anything else i can consider? Has anyone else gone in with no money and proposed a plan to a developer and how did it go?

Thank you in advance