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Bethlehem Road
We acquired this parcel on Bethlehem Road in Roscoe, NY in February 2025 as part of a three-lot portfolio, and sold it to an end-user buyer nine months later.
Location
Callicoon Center, NY
Acreage
3 Acres
Strategy
Improve and Envision
Results
2x MOIC after 9 months
Challenge
When we acquired it, the lot was difficult to understand. It sat at the end of an unmaintained dirt road abutting a large beaver pond. But the same features that made it hard to read also made it a secluded waterfront getaway, perfect for a buyer looking to build a second home.
Solution
In the nine months we owned the site, we worked with the town to secure a road maintenance commitment from the municipality, had a septic design completed and approved, and developed a speculative site plan showing how the lot could be improved and built on. None of that changed the land itself; it changed what a buyer could understand about it.
Result
That's what made this a win on every side. The end-user bought a de-risked parcel they could actually picture building on, rather than raw, uncertain dirt. Our investors earned a 1.75x multiple in less than a year. And every step we took stayed squarely within what the town was already looking for, turning a hard-to-read lot into the kind of buildable homesite the town wants to see.
