Property Description

Five-Star R3X Development Opportunity | 60 X 100 Lot | Substantial Expansion PotentialThe first floor and basement are vacant.Positioned on a rectangular 60 X 100 property in an R3X zoning district, this two-family offering presents a compelling opportunity to develop a custom luxury residence or to maximize its potential through expansion. With approximately 4,500 buildable square feet permitted under a 0.75 FAR, the site supports substantial new construction aligned with today's expectations for scale, layout, and long-term value.Recent comparable activity reinforces the development potential. Based on three recent R3X sales on 4,000 sq ft lots that were redeveloped into new two-family homes, the average sale price was approximately $1,243,320-equating to about $414 per buildable square foot. Applied to the approximately 4,500 buildable square feet permitted on this lot, the projected value approaches $1,864,980, subject to design, construction, and market conditions.The existing structure is configured as a two-family. It includes a full, high-ceiling basement with both side and rear access, offering flexibility for future use, layout reconfiguration, or end-user customization.This offering is ideally suited for builders, investors, or end users seeking to capitalize on a well-located property with significant expansion potential.

Property Features

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