All Forum Posts by: Yisroel Neustein

@Steven Morgan

A quick search on LoopNet tells me it's about 75 per square feet in the area

So that mean about 225k

@Steven Morgan

Let's set it clear

Your property is a R71 which mean you can build there 3.44 the lot size

So now what's the lot dimensions?

Then what's size is the existing building you are living now?

@Steven Morgan

I'm in Brooklyn where it's a common thing to do to buy air rights

I think now is the time for south Bronx if you would like to have an estimate how much it is worth you will have to know what's the price for a non build square ft

To know how much a non build sq ft is worth you should search around your area for a lot and ask for the zoning and you could search on google how many square ft you can build on it and then divide it into the purchase price and that's the price

For an example let say the lot is 20x100 and it's a R6 zoning you can build on it 2.3x the lot,

that means 20x100=2000 x2.3 =4600

Now let's say it is for sale for 500k so 500,000/4600=108

I hope you understand I tried my best

@Don Gouge

Just also want to add that 20k is not so much when you put in the deal 178k don't know how long it took you from buying till you flipped it but I would say you have to estimate one year so that means 11% percent on your money and this is with working hard alone with no contractor, don't forget he had a partner to share the profit too

If someone would show me that deal I wouldn't jump on it

#thats only my opinoin

Hey sounds interested you could send to me [email protected] 

Hey can you add me too [email protected]