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Brook Road
This lot sat on the market for more than a year and a half before we acquired it. The land sits at the center of a protected NYC watershed, and the steepness of the grade made approvals seem like less than a sure thing.
Location
Denver, NY
Acreage
6 Acres
Strategy
Improve and Envision
Results
Sold for 2.25 MOIC after 9 Months
Challenge
At the same time, the parcel was compelling: 600+ feet of frontage along the Batavia Kill, long views of the Denver Valley, open meadow, forest, and a creek running down the center. We took the bet that we could navigate the DEP and DEC and secure a variance for septic.
Solution
We started by clearing the overgrown area we were proposing to build on. We ran a driveway in from the road and extended power service to the build site. Next, we worked closely with our engineering partners to secure a variance for a septic design that could be built on a slope slightly over the 15% maximum grade allowed in the area. With BOH approvals in place, we brought the parcel to market as a proven, build-ready, improved lot.
Result
With access in place, the build area cleared, and power service installed, it was easier for potential buyers to understand our vision for the property. We worked with our design team on a Main House + ADU concept, which the buyers ultimately pursued as their end use for the land. All told, the land sold at a 2.25x MOIC, including our acquisition and improvement costs.
