Development sites and ground leases.
We advise landowners and developers on the sale and acquisition of development sites, assemblages, adaptive reuse opportunities, and ground leases throughout the five boroughs, Long Island, Westchester, New Jersey, and Connecticut. We analyze the zoning, the comparables, and the residual land value before pricing any site.
A data-driven approach to land.
Every site we price starts with the data. We analyze the zoning, including as-of-right buildable square footage, applicable overlays and bonuses, MIH, and 485-x eligibility, and combine it with current land comparables, rental and condominium sell-out comparables, construction cost benchmarks, and a residual land value model. The result is a price supported by what a developer can build, finance, and sell on that site, not by asking prices.
We then test that analysis against our transaction history in the submarket and against the developers and capital sources actively buying. That combination of data and experience is what lets us price a site accurately and defend the price through negotiation.
As-of-right buildable square footage, the applicable MIH option where triggered, 485-x eligibility, the height and setback envelope, and the comparable trades we priced against, so buyers underwrite the same numbers we did.
What we do.
We sell development sites, assemblages, and adaptive reuse candidates, and we represent developers acquiring them. We identify assemblage and air-rights potential where an adjacent lot changes the outcome and advise on the sequence for acquiring it. For owners of improved properties, we evaluate whether the land is worth more than the building on it.
For owners who want to retain the fee, we structure and market ground leases, and we represent developers seeking leasehold sites. Where a joint venture is the better outcome, we advise on that as well.
Who we work with.
Landowners, developers, and sponsors buying or selling sites, assemblages, and adaptive reuse candidates, and owners of improved properties whose land value exceeds the value of the building.
Market coverage.
The five boroughs, Long Island, Westchester and the Hudson Valley, northern and central New Jersey, and Connecticut.
What is your site worth as-of-right?
We will run the zoning, the comparables, and the residual land value before we give you a number.