The Problem: Market Analysis – Brooklyn Waterworks site located in Freeport which consisted predominantly of vacant land. Problem was to determine the highest & best use of the subject parcel under several distinct valuation assumptions (i.e. rental housing & condominium housing) and residual land value under each assumed use.
The Solution: Develop different development models under each proposed use and their prospective development costs based on similar to-be-built or recently completed projects. Each analysis was then formulated into an overall forecasted profit criteria.
The Result: Provided prospective purchaser several different purchase & development options under each proposed use with relevant support data and indices.