Access & Overview: Dive into our Accessible Model on New Rochelle's Prime Site.
Access and modify this model without any subscription requirements:
https://developer.deepblocks.com/explorer/eGqJBBvH4HQoZwsPCFRV
Recently, we identified the only site in New Rochelle’s 59.01 tract with the potential for over 60 units. Presently, the site hosts a small retail establishment.
Development Constraints: Understanding Site Limits from Units to Floor Area Ratios.
The site's development constraints are as follows: a cap of 65 units, a height limit of 70 feet or up to 6 stories, and an FAR (floor area ratio) of 2. Parking mandates are in place for both the residential units and the retail space, set at 1.25 spaces per unit and one space for every 400 SF of retail. The lot can be fully covered (100% lot coverage), with no setbacks necessary unless it's adjacent to a residential zone.
Maximizing Space: Strategic Adjustments to Fit Residential Units and Parking.
To optimize the number of units while remaining within the height restriction, I downsized the one-bedroom units to 650 SF and the two-bedroom units to 850 SF. The ground floor accommodates all 88 required parking spaces, with retail occupying the frontage.
Financial Analysis: Using Real-Time Data to Fine-Tune Returns on Investment.
To ensure financial viability, I consulted Zillow to cross-check prevailing rent rates in the vicinity. Based on this, I adjusted the rents in the model, successfully enhancing the return on cost from 4.48% to 6%. All of which took me 5 minutes to complete.
More will be revealed,
About Deepblocks:
Deepblocks is state-of-the-art data-driven software that utilizes artificial intelligence to identify the best investment opportunities. Deepblocks digitizes zoning data with precision and provides a comprehensive understanding of city-wide development capacity down to the parcel level. Our GIS-like interface seamlessly integrates demographics, economics, construction activity, crime, ownership, and race to deliver rapid market and site selection capabilities, saving time and effort. Whether you’re a developer, investor, or real estate professional, Deepblocks is the ultimate tool to make informed decisions and stay ahead in the industry.
Learn more: https://www.deepblocks.com/
