Tuesday, July 3, 2007

3.3 Acres for sale in SE DC...is it worth $3.3 Million?

Many would argue against it but I say Yay...it is. Thanks to sellers Darcy & Jake, basically an entire square block in SE DC has been purchased and subdivided into one large lot. My vision for the property would be 60 town homes similar to that of Dakota Crossing and 20 more town homes, each of which is four levels, containing two duplex condos, which would allow for your affordable housing quota. I have already run the numbers and the pro-forma is ready to be shipped. Our friends downtown say the waiver is possible...what do you think? Margins are in the 30%'s

For a copy of the pro-forma please email me at jkaye@ktrealestate.com.

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