Since the city adjusted the tax value of empty lots all over the NYC a couple of years back to their true value, laid back land owners are suddenly deciding to sell these days. A large 50 foot parcel at 538 West 147th Street between Broadway and Amsterdam has just hit the market for condo development recently and is a good example of this situation. Annual taxes are now $40.5K a year which is not chump change for a property that does not generate any revenue so selling at the asking of $6 million to a developer might be a good idea. Those interested out there might just want to check this one out since there is actually not a lot of land to build on anymore uptown and apparently renderings already have been made for a proposed condo construction:
LINK
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