What’s land worth now?

10 Meadowbank

10 Meadowbank

This tear-down was sold in 7 days via bidding war in 2000 – $1.395 on an asking price of $1.295. It’s back today, unchanged except for a plot plan, for $2.5 million. I don’t know what this will eventually sell for but I’ll be surprised if there’s a bidding war this time.

8 Comments

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8 responses to “What’s land worth now?

  1. Vicky

    ?
    Has it been occupied or literally sitting empty for 9 years? Just trying to understand the economics here.

    • christopherfountain

      I don’t know, Vicky. I’m sure it didn’t sit empty, but whether it was rented out or occupied by the owner …? From the fact that they offer a plot plan and, I think, bldg plans, it sounds like they had ideas and changed their mind.

  2. Anonymous

    occupied since the last transaction…..nothing done. but, location, location, location — we’ll see!

  3. xyzzy

    Am I nuts or isn’t 6 Meadowbank for sale right next door for 1.7 milliom? Does 10 have some small water view that 6 doesn’t?

  4. SizeBuyer

    The listing says house cannot be shown nor can property be accessed? Help me CF, help me!

    please explain?

  5. anonymous

    Private street ends into the Sound and walk to Tod’s point. No waterview from the house though, because each of the 4 end houses are built pretty tall. Also, the street is in the FEMA flood zone, so basement cannot be built on the property. Best guess this land is worth $2.1 – $2.2 million even in this market if the seller is patient, but who knows if the seller is distressed….

  6. anonymous

    10 mb = 0.4 acres
    6 mb = 0.19 acres

  7. Anonymous

    one of the nicest/prettiest streets in OG — great location as well.