Each project is bought, built and sold or leased inside its own single-purpose company, with its own budget, its own loan and its own exit. We co-invest in every one.
Value is created by the work, not waited for.
Manhattan townhouse inventory sits well below its ten-year average, and turnkey houses are a fraction of that. Buyers pay a large premium to avoid a two-year renovation.
Un-renovated houses in the walk-shed trade at roughly $1,000 to $1,400 per square foot. Finished, enlarged houses on the same blocks have sold at $2,500 to $3,600.
Buy for cash from a long-term owner, file plans while in contract, add a floor and a cellar, bank construction financing at month eight, sell at month twenty-two. We follow it.
Terms, minimums and documents are discussed privately with qualified investors. This page is not an offering.
We maintain a screened list of every qualifying townhouse in the Central Park walk-shed, with owner outreach under way, alongside commercial work in New Jersey. Current opportunities are shared under NDA.
646-644-4641 · david@rivetbuilders.com