Manhattan Land w/ Construction Plans & NYC Approvals

[Chris Rivera]

Land Description

Plot of Manhattan land for sale (Off Market). Included in the sale are the NYC approved construction documents. This is an opportunity to purchase Manhattan land and bypass architecture and/or the NYC government bureaucratic process.

The lot is in the up and coming “Spanish Harlem” neighborhood and borders UES. Lot Area is approximately 4,000 sq feet. The construction documents contain approved plans for a 7 story (elevator), 23 unit, 18K square feet building. The 23 units are for 21 1br units and 2 2br units. Based on my conservative estimate, annual rental revenues are approximately $550-600K once constructed. Construction is estimated to take approximately 1 year and has not yet been paid for.

I have the construction documents available however as they are confidential I will only provide to vetted potential buyers.

Owner Background

The owners have had the property for approximately 4 years and have been working through all of the necessary Construction & NYC approvals. They are currently set to break ground to build within the next 3 months. They are not actively marketing the property for but are open to selling at the right price and have authorized me to search around for what’s out there. I have a finder’s fee agreement with the sellers so I’m willing to talk to talk to any potential buyers for free (to vet them) and connect them with the owners promptly.

Buyer Criteria

-Must have the ability to close via cash sale

-Must be willing to close within the next 3 months (prior to construction starting)

-Preferred that the buyer has some sort of construction experience (but not a deal breaker)

Price

The price is $5M (negotiable). Buyer would have to pay for all remaining construction costs subsequent to the sale. Seller is open to an agreement to deliver the building constructed, but not for the price included here. At the end of the day terms are negotiable so if you are at all interested (even if you don’t agree with the price above) please PM me and we can hop on a call to discuss further.