CityRealty Insider > Teardowns: Starting from Scratch

Teardowns: Starting from Scratch

DECEMBER 2, 2010

A teardown can be an opportunity to design and build a new home to your own specifications in a city where empty lots are hard to come by.

A “teardown sale” is what happens when a buyer intends to demolish the existing structure on a piece of property and rebuild. Buyers can also use this strategy to maximize square footage, which isn’t always popular with neighbors. In densely-populated urban areas where vacant land is scarce, students of urban trends study teardown activity to better illuminate actual property value.

Teardown activity remains steady in both good and bad economies. A 2007 New York Times article cites a study calling the New York metro area the “teardown capital of the United States.” According to the same article, the city’s highest number of teardowns happen in Fieldston and Riverdale in the Bronx, Bay Ridge, Gravesend and Park Slope in Brooklyn; Astoria, Bayside and Flushing in Queens and Staten Island.

If you’re considering the teardown route, you should know that many city buildings are landmarked and regulations assure that the historic and aesthetic value of neighborhoods is preserved. You can find more information at sites like Teardowns.com, which discusses, for example, how to recycle building materials taken from teardown sites.

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