How do I Comp A Brooklyn Property that I Know Is a teardown?

[J. Lancaster]

How do I Comp A Brooklyn Property on a block full of relatively new Duplex & Triplexes when I know the existing house will have to be torn down before a new one can be built? Do I Comp it against Improved Land sales or the newer structures selling on that street even though it's unknown exactly what the new structure will be ? The lot is a little smaller than most on that block as well. Can someone offer some area insight as I've only just moved back to NY a month ago?

[Wayne Brooks]

The value of the lot will be the comparable price for vacant lots, if there are any, then deduct the costs of demolition and removal. There is no relation in price between this one, and other habitable structures.