Tuesday, June 26, 2012

☞ DWELL: 240 West 123rd Street Still on Market

The mystery townhouse lot at 240 West 123rd Street is still on the market after being listed for almost a year now.  An asking price of $425K has not been reduced for the 13.8-foot-wide parcel that used to have a brownstone in its place.  About 5,584 square foot of livable floor space can be built based on the zoning of this section right around the corner from the FDB corridor and the express trains are also close by. Instead of tearing down old buildings and getting neighbors worked up, it might be better for future developers to actively seek out these open lots for their new construction plans.   Get more details for this land sale at the broker site: LINK

Check out our past post on one homeowner who also decided to buy a small empty lot and build his own modern vision of a townhouse just a block east of this location: LINK.
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1 comment:

  1. DouglasJune 27, 2012 at 9:47 AM

    The issue is that the lot is worth zero - it would cost you more than $1,000,000 all in to build something there and when you're done it wouldn't sell for $1,000,000.
    It's a money loser. You're much better off buying a shell and renovating.

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