Remember the top-of-the-hill Del Mar lot that was auctioned off for $4,000,000, and then they added the 10% vig?
Del Mar Hilltop
by Jim the Realtor | Nov 25, 2015 | Auctions, Del Mar, Jim's Take on the Market, Local Flavor | 2 comments
Remember the top-of-the-hill Del Mar lot that was auctioned off for $4,000,000, and then they added the 10% vig?
What are construction costs realistically at the high end? $1000/sqft? $1500/sqft?
I bet that house could be built for $500/sq ft, or $4 million. But even if you allocate $1000/sq ft, that’s only $8 million. Plus the lot, that’s around $12 million. Palmer is trying to double his investment. Seems ambitious to me.