(x2) Single Family Sub-dividable Lot | 60,984 SF Lot Size

1 High Street Westwood, NJ 07675

1 High Street, Westwood, NJ, 07675
1 High Street, Westwood, NJ, 07675 1 High Street, Westwood, NJ, 07675 1 High Street, Westwood, NJ, 07675
FOR SALE
Property Type:
Residential Land Development
Amount:
$999,999
Last Verified:
Feb 16, 2024

Highlights

  • Calling all developers in Bergen County for Single Family Housing.
  • Construct your ideal residence on this expansive plot of land.
  • Ideal suburban location for NYC direct train & bus commuting.

Description

The Elia Realty Group, in collaboration with KW Commercial, is delighted to introduce an exceptional new prospect for the development of one or two luxury single-family residences. Nestled within the sought-after locale of Westwood, NJ, this opportunity presents itself on a secluded dead-end street. Spanning a generous 60,984 square feet, the property offers an ideal canvas for investment-minded developers or prospective homeowners aspiring to actualize their dream residence. Moreover, the potential to leverage the sale of the neighboring property stands as an advantageous avenue for significantly offsetting the overall homebuilding expenses.

Westwood (known as "The Hub of the Pascack Valley"[20]) is a borough in Bergen County, in the U.S. state of New Jersey. Westwood is part of the New York metropolitan area. Many of its residents regularly commute to New York City for work and leisure, many using public transportation. As of the 2020 United States census, the borough's population was 11,282, an increase of 374 (+3.4%) from the 2010 census count of 10,908, which in turn reflected a decline of 91 (−0.8%) from the 10,999 counted in the 2000 census.

Westwood was officially incorporated as a borough on May 8, 1894, from portions of Washington Township, early during the "Boroughitis" phenomenon then sweeping through Bergen County, in which 26 boroughs were formed in the county in 1894 alone. Isaac D. Bogert served as the first mayor of the borough. In April 1909, Westwood was enlarged through the annexation of the "Old Hook" section of the borough of Emerson, and on September 24, 1957, portions of the borough were exchanged with Emerson.

Lot Size: 1.4 acres

Map of 1 High Street, Westwood, NJ, 07675

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.