Land Deal – Newark *

The buyer will pay a 3% commission for this deal

Double Lot in Newark, NJ

Exit Strategy

1. Build or convert to a 1–3 family

• Newark’s current R-2 district is “One- to Three-Family Residential,” so the cleanest play is usually a new 2-family or 3-family, assuming the lot meets bulk, setback, height, coverage, and parking rules.

2. Split/subdivide the double lot

• This is the bigger opportunity. If the double lot can be legally subdivided into two conforming lots, you may be able to build:

Option A: one 2-family on each lot = 4 total unitsOption B: one 3-family on each lot = 6 total units