Remember the top-of-the-hill Del Mar lot that was auctioned off for $4,000,000, and then they added the 10% vig?
2 Comments
Give us a call! (858) 997-3801
klingerealty@gmail.com
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.