107 Old Palisade Rd, Fort Lee, NJ 07024
107 Old Palisade Rd, Fort Lee, NJ 07024Basic Details
- Date added: Added 1 week ago
- Type: Commercial
- Category: For Sale
- Status: Open
Description
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Description:
0.11 Acres of Residential Land Offered at $895,000 in Fort Lee, NJ 07024
Rare R7-A zoned as-of-right duplex / two-family development opportunity in Fort Lee. The proposed concept includes two side-by-side luxury residences, each approximately 25’ wide by 55’ deep, with a ground-level garage, two residential floors above, and potential rooftop outdoor living space. The property is a 100’ x 62’ vacant parcel with no demolition required, located approximately 0.25 miles from the George Washington Bridge. R7-A zoning permits two-family detached dwellings, townhouses / row houses, and multifamily residential uses, subject to final architectural plans, bulk requirements, parking compliance, and municipal review.
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Property Details
- Sale Type: Investment
- Proposed Use: Multifamily
- Total Lot Size: 0.11 AC
- Lots No: 1
- Property Subtype: Residential
- Zoning: R7-A - R7-A in Fort Lee, which permits high-density residential development, primarily mid- to high-rise multifamily apartment buildings.
Highlights
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- As-of-right duplex / two-family concept, with zoning that permits two-family detached dwellings, townhouses / row houses, and multifamily residential
- Proposed side-by-side duplex layout with two luxury residences, each approximately 25’ wide by 55’ deep
- Rare R7-A zoned development opportunity in Fort Lee’s Mid-Rise Residential Zone
- ±3,625 SF Per Residence — Each home is conceptually planned at 1,375 SF per floor across three floors, less approximately 500 SF for garage space.
- Conceptual design includes a ground-level garage, two residential floors above, and potential rooftop outdoor living space
- Projected Resale Around $1.812M Each — Market comps suggest a finished product of this scale could sell for approximately $1,812,000 per residence.
Property Taxes
- Parcel Number: 19-04355-0000-00031
- Land Assessment: $280,000
- Improvements Assessment: $0
- Total Assessment: $280,000
Agent
Bruce Elia
KW Commercial Fort Lee
Dorit Reiner
KW Commercial Fort Lee
Adam Sujak
KW Commercial Fort Lee
Location
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