Riverside land contract

Dumpster Duck 234 Riverside Avenue

Dumpster Duck
234 Riverside Avenue

234 Riverside Avenue, 0.68 acre, 9,000 sq.ft. potential, asking $2.250 million.

22 Comments

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22 responses to “Riverside land contract

  1. Anonymous

    Can this lot be subdivided?

  2. Anonymous

    It’s frightening that you can build 9,000sf on such a small parcel. I guess it works if you want the mansion look with the privacy and charm of a rowhouse in Queens (probably nostalgic for the eventual owner).

    • Riverside Home Owner

      9000sf will run you at least 2 million, and probably closer to 3 if the finishes are high end. Throw in landscaping, driveway etc, and it’s 3.5 all buttoned up. And two years!
      So 5-6 million with no yard?
      Why not just buy the house on Hidden Brook?
      Better location, quieter, safer for kids….
      Hamptons in Greenwich or something like that.
      If their ask is 6.25 with no bites, 5 million all cash could get you in just time for the Dogwoods to bloom.

      • Riverside Dog Walker

        Agree with your analysis. However, the house on Hidden Brook really is an elephant on a pea (as observed by Mickster some time ago) and there is nothing to be done about that.

        Will be interesting to see the sale price when reported for 234 Riverside. Should be around $2M as I predicted several months ago. 5 Indian Head not that far way got just north of $2M and is apparently waiting for the bulldozer to arrive in the spring.

    • I hope you’re right! Queens guys are hot!

  3. Riverside Home Owner

    If it were definitely divisible the price would be higher.
    Riverside avenue .68 acre selling for 2.2!?
    Is actually less than recent 12 watchtower land sale of 1.280 for .31 acre lot.
    Neither are convienent in terms of walking distance to schools, but not bad spots either.

  4. Ghost of the FAR Czar

    Math looks close for the subdivision. Starting with roughly 29,000 sq ft, you need two lots with 12,000 sq ft minimum plus lot shapes that accommodate a 60×100 rectangle plus room for the all the appropriate front/side/back yard setbacks. If you create a flag lot, the flag pole is probably not counted for FAR computations. Since you are subdividing, I wouldn’t count on getting any setback variances from ZBA. The seller not doing the homework to demonstrate all of that probably means that it wasn’t feasible. Although isn’t what happened with the two Kali-Nagy spec houses on Marks that the seller didn’t realize there could be a sub-division?