Weehawken NJ Land for sale with development plans for Townhouses

[Domion Pontrelli]

JE Property Solutions, LLC is soliciting buyers/investors to purchase land and the development plans for the construction of three new townhomes and the renovation of an existing townhome along the waterfront in Weekhawken, New Jersey.

Land is for sale with development plans for townhomes along with approved zoning.   

Below is a brief breakdown. As per request I can email proposal containing development plans and further information.

Overview

Three New Townhomes , one renovation to exsiting property

The projected build is in the vicinity of River RD along the water’s edge with an unobstructed view of Manhattan. • The land is 10,000 sq. ft.; it spans four lots that currently consist of a one family property and vacant land.• The proposed dimensions are 20ʹ6ʺ wide by 38ʹ0ʺ deep, two stories tall with a sunken den.• Each unit may have up to two parking spaces and one outdoor space.

Townhome Renovation

• The renovation will occur in the existing one family dwelling and will include new windows, a new front door, an additional level (second story), and one ground floor parking space.
• The architect, developer, realty agent, and mortgage officer have been commissioned.
• A site plan and floor plans prepared by the architect and developer for each structure are shown on page five.
• The land is Zone R-3; the townhomes may be one, two, or three family residences.

Estimated Cost

Purchase of land -$1.4 million

Construction $1.7 - $2million

Contingency budget $0.5

Projected Sale Price

The fair market value or selling price is projected to be $6.25M upon the completion of all four townhomes. The aforementioned value is provided by Liberty Realty of Hoboken, New Jersey and is based on an estimated $625 per square foot.