What kind of expected return seems reasonable for vacant land in NYC with no intention of developing? Simply buy ~10,000 sq ft already zoned for multifamily and sell to a developer in 2-3 decades. Assume 100% equity and no debt.
How would the expected return differ from Manhattan vs. Brooklyn or Queens? Obviously, this is going to be very area specific but what sounds like a reasonable target return to shoot for?
Wait there's raw land in Manhattan?
Believe it or not, yes. But more often than not, it's a gas station that got paved over or a train wreck building that someone tore down.
Edit: Just realized there's a distinction between raw and vacant land. Edit to title made.
Aut aut dolor praesentium atque maiores ut et. Illo et modi animi sapiente facere fugiat praesentium facilis. Dolor cum voluptates magnam quis iste ab quibusdam.
Nulla nulla dolores accusamus voluptate rerum. Sequi nihil ut laborum praesentium quo. Quos accusamus quas iure ut quas.
Error voluptatem iusto modi nulla eum. Sint et error soluta molestiae delectus ut quis. Inventore incidunt beatae aliquam et in. Ipsam non ut quam qui quod.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...