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198-200 W 31st St - INVESTORS CHALLENGE SUPER HIGH RETURN 0.12 Acres of Commercial Land Offered at $2,293,945 CAD in Bayonne, NJ 07002
Investment Highlights
- SPECTACULAR PANORAMIC VIEW | BEAUTIFUL SUNSETS | PEACEFUL NEIGHBORHOOD | 40' GRADE ELEVATION |CONSTANT MARITIME ACTIVITY | SWAN, DUCK, SEAGULL, BIRDS
Executive Summary
This property represents a perfect candidate for an R5 zoning variance, due to the presence of the neighboring (32) unit condominium, (aka Bay Harbor Club), along with the overtone of the Bayonne High School, the Rich Korpi Ice Rink, Veterans Stadium, favorable roadway orientations, and its prized location. The securement of an R5 zoning variance will enable the construction of a (16) unit residential dwelling structure, on the acreage of this property, (four level condominium or apartment building).
Bayonne is in the process of finalizing its “Gold Coast Waterfront Walkway, (refer to the “Walkway Progress Schedule” which is contained the CONCEPT 006 attachment. Back in the early 2000’s and upon the construction of the neighboring (32) unit condominium, the builder was required to provide a public waterfront walkway, prior to the issuance of its R5 zoning variance. A conventional walkway is not possible for this property, (198-200), due to its high elevation and steep incline to the water. A “walkway bridge” will be required, to join the existing Bay Harbor condominium walkway to the city owned property, located at the rear of the homes on West Drive, (refer to the second and third pages of the CONCEPT 006 attachment.
Zoning variances must never be awarded based on potential tax revenue. In the real world this is not always adhered to. However if the variance will indisputably improve the functionality or aesthetics of the town, along with the quality of the lives of the town’s residents, then the variance is almost always awarded, provided there are no negative conditions or eminent dangers.
CONCEPT 006 WILL INDISPUTABLY IMPROVE THE FUNCTIONALITY AND AESTHETICS OF BAYONNE, ALONG WITH THE QUALITY OF THE LIVES OF THE TOWN’S RESIDENTS. THERE ARE NO NEGATIVE CONDITIONS OR EMINENT DANGERS, PROVIDED THE LAND DEVELOPER ADHERES TO THE BASIC DESIGN, TERMS, AND CONDITIONS OF CONCEPT 006. IF THERE IS RESISTANCE WITH THE LOCAL MUNICIPALITY, WITH REGARD TO THE AWARDING OF AN R5 ZONING VARIANCE, THIS IS CONSIDERED AN ACTION IN LIEU OF PREROGATIVE WRITS. A COMPLAINT AND/OR LAWSUIT, FILED WITH THE NEW JERSEY SUPERIOR COURT WILL LIKELY GENERATE A POSITIVE OUTCOME.
CLERK OF THE NJ SUPERIOR COURT
RICHARD J. HUGHES JUSTICE COMPLEX
P.O. BOX 971
TRENTON, NEW JERSEY 08625-0971
IMPORTANT – Kindly review attachment titled ‘EX PARTE’ COMMUNICATIONS, as this knowledge could become valuable with regard to the execution and success of CONCEPT 006.
Property Facts
1 Lot Available
Lot 20
| Price | $2,293,945 CAD | Lot Size | 0.12 AC |
| Price Per AC | $18,802,831.90 CAD |
| Price | $2,293,945 CAD |
| Price Per AC | $18,802,831.90 CAD |
| Lot Size | 0.12 AC |
OVERSIZED WATERFRONT LAND PARCEL: The total usable area of property, is 7,246 square feet, (double lot), and represents one of the largest residential 'true' waterfront lots in Bayonne, (the property tax is based on 5,300 square feet).
Description
PARALLEL and POSITIONED PERFECTLY This is a double lot and represents one of the most "Perfectly Positioned" Waterfront properties on Bayonne’s Gold Coast. The land parcel is situated on a 120 ft “Parallel” waterfront, (as opposed to a less desirable perpendicular waterfront). This land parcel is literally 29 horizontal feet from the Newark Harbor. It's Exclusive, it's Unique, and it's One of a Kind !! WIDEST POINT OF NEWARK HARBOR This property is nestled in a mild cove and is located at the widest point of the Newark Harbor, (1.21 miles). 40' ABOVE SEA LEVEL The Grade Elevation of this property is 40' above sea level, and is one of the highest Waterfront land parcels in Bayonne. A near Vertical Cliff, (60 degree incline), separates this property from the Newark Harbor. A small beach exist at the coast line, (fairly uncommon in Bayonne). WATER IS MAGIC There's nothing like water that drives people to a particular location. This land parcel is a "True Waterfront” and is the real thing. “Waterview”, which could be several hundred to several thousand feet away from the water, must never be confused with Waterfront, (100’ or less from the water). Although there will soon exist hundreds of waterview dwelling units in Bayonne, "True" waterfront dwelling units are rare and most desirable. Many will not settle for a waterview dwelling and will insist on a waterfront. GORGEOUS SUNSETS and SPECTACULAR VIEWS There are Gorgeous Sunsets which are enabled by the harbor's width and there exists Spectacular Views which are enabled by this property's 40' grade elevation. WILDLIFE and NATURE This is a great location for the observation of wildlife, which include swans, ducks, geese, seagulls, and birds. MARITIME ACTIVITY There is constant maritime activity in the harbor, which include cargo ships, freighters, ocean liners, tugboats, small pleasure boats canoes, and recreational watercraft. RAISING OF BAYONNE BRIDGE Since finalized, the largest cargo vessels in the world frequent this harbor on a regular basis. Port Elizabeth - Port Newark represent the 3rd largest shipping port in the country and are situated directly across the Newark harbor. PEACE and TRANQUILITY It is like being in the country with the convenience of Bayonne. Quiet and peaceful neighborhood. ONLY 20 MINUTES TO NYC This is one of few private waterfront locations, available in Hudson county, within a travel threshold of 20 minutes to New York City. ACCESS and PUBLIC TRANSPORTATION There is great access to public transportation, the Hudson Light Rail, shopping centers, Newark, the NJ Turnpike, and the highways. NEED MORE LAND . . . Kindly refer to the “OM” (Offering Memorandum) and reference the following: 1) Need More Land . . . 2) Concept 006 3) Prohibition of ‘Ex Parte’ Communications BAYONNE IS BOOMING Bayonne has become a "Booming Real Estate Market". There are several dozen "mid-rise" apartment structures currently under construction. In time, these structures will produce several thousand rental apartment dwellings to help accommodate the exorbitant influx of residents and professionals into Bayonne.
Property Taxes
| Parcel Number | 01-00155-0000-00020 | Improvements Assessment | $239,544 CAD |
| Land Assessment | $315,591 CAD | Total Assessment | $555,135 CAD |
Property Taxes
Presented by
David Curiazza
198-200 W 31st St - INVESTORS CHALLENGE SUPER HIGH RETURN
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