- A rare buildable lot in Newlands.
- South facing and over 10,000 SQFT, which should allow building a house sizable enough to meet the needs of the vast majority of buyers.
- Previous 20's era house was demolished, so there should be no tap fees required.
Deal notes: The seller acquired the property in September of 2020 for just under $1M. They took the risk for obtaining the demo permit and were successful. Had the previous seller undertaken that step, they likely could have sold the lot for much more.
This time around, the lot had been marketed for $1.87M last summer. The seller cut the price to $1.65M in August and then again to $1.35M in November. It was available for almost two months at that price before the buyer locked it down for $1.3M, a stellar price for such a large, south-facing lot on a dead-end in Newlands. The available approved building plans were a solid bonus, saving at least a year in the development process.
This time around, the lot had been marketed for $1.87M last summer. The seller cut the price to $1.65M in August and then again to $1.35M in November. It was available for almost two months at that price before the buyer locked it down for $1.3M, a stellar price for such a large, south-facing lot on a dead-end in Newlands. The available approved building plans were a solid bonus, saving at least a year in the development process.
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Note: The Realtors at House Einstein did not represent the buyers or sellers of this property. Our discussion of notable sales is designed to help educate you on market conditions and make a smarter real estate decision.
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
