5716 W Manchester Ave

Development Land. Same Owner, Same Situation.

The Manchester Ave land parcel was part of the same Westchester portfolio. We originally sold it in 2017 for $1.6M as a development site. Like the rest of the portfolio, the development never happened. The owner needed to sell, and the land market in Westchester was soft. We got $1.95M, a 22% gain from the original sale despite the owner never building on it. Considering the circumstances, that was a win.

Transaction Highlights

• Originally sold by us in 2017 for $1.6M
• Sold again in 2023 for $1.95M. 22% gain with no development.
• Part of the broader Westchester portfolio disposition
• Land parcel on Manchester Ave in Westchester