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Updated about 10 years ago on . Most recent reply

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25
Posts
13
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Richard Smith
  • Investor
  • Round Rock, TX
13
Votes |
25
Posts

Am I on crack or is it the person trying to sell this?

Richard Smith
  • Investor
  • Round Rock, TX
Posted
Ok to you Austin investors: http://www.loopnet.com/Listing/15696593/701-Tillery-St-Austin-TX/?intcpt=false&sourcecode=1lne0t006TT20150326LN&linkcode=&utm_source=loopnet&utm_medium=emailmarketing&utm_campaign=LoopNews $20 million for this? Seriously? What am I missing?

Most Popular Reply

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8,666
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4,015
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Jon Klaus
  • Developer
  • Garland, TX
4,015
Votes |
8,666
Posts
Jon Klaus
  • Developer
  • Garland, TX
Replied

$38 per square foot.   The question is, what can get built there? One group is getting close to getting approvals on 200+ units on 1 acre in the same zip. That kind of density can justify a very high land price.   The Johnson Govalle neighborhood association can be difficult with blocking zoning changes, but if you have 20 million to pay for dirt, you probably have a few bucks to influence the neighbors and the city council. 

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