Land Valuation
for NYC Development Sites.
A tool for estimating development site value in New York City. Built for early-stage underwriting — before you commit the time to a full site study.
What LandVal Does
LandVal estimates the development value of NYC sites based on zoning, lot configuration, and market transaction data. The model is built on direct underwriting experience — not retrofitted from a data science framework. It reflects how site value is actually analyzed at the early stages of a deal: start with what the zoning allows, adjust for what the site can realistically deliver, and calibrate against what the market has paid for comparable density.
Market Trends
Sales Volume and Avg. PPZFA by Year
The LandValuator
Enter a property address and zoning parameters. The model returns a preliminary estimated land value with a confidence range and site-specific adjustments — including special district overlays, lot configuration, and inclusionary housing requirements.
8 West 45th Street, Manhattan
Manhattan
Midtown
5,000
10.00
MID
Preliminary Estimated Land Value
$41,638,443
Data-driven valuation
Low Range
$37.4M
High Range
$45.8M
Confidence Level: 95% (High)
Valuation Adjustments
- Special District
- Zoning Floor Area Coefficient
Feasibility Check
Valuation and feasibility are different questions. LandVal answers both. Once a land value is established, the tool runs a preliminary feasibility check against the estimated development program — giving you a read on deal viability before you've spent time on a full pro forma.
Development Feasibility Snapshot
Using the $41,638,443 estimated land value as the acquisition cost basis.
Preliminary Read: The numbers work at the right basis. Returns are sensitive to construction costs and final land price — the deal warrants a closer look before committing.
Key Return Metrics
Projected Total Development Cost
~$88M
Expected NOI
~$5.5M
Yield on Cost
6.0-6.5%
Levered IRR
14-17%
From Feasibility to Pro Forma
When a quick check isn't enough, the Back of the Envelope calculator is your next step. This interactive pro forma lets you model development scenarios in real-time, bridging the gap between a high-level look and a full underwriting. Adjust costs, pricing, and financing to see exactly how the numbers pencil out.
Assumptions
Condo · By FAR — buildable area from floor area ratio
with Off-Site Inclusionary Housing Bonus
Feasibility Verdict: Viable
Pre-Tax Profit
$29.9M
Profit Margin
24.9%
Equity Multiple
1.95x
How It Works
LandVal follows the logic of how site analysis actually happens — establish a baseline from the zoning, then adjust for what the specific site can and cannot deliver.