RockSpringCluB-Hendricks Appraisal.pdf

THE COMPARATIVE APPROACH — AS A VALUATION INDICATOR Sale_- Hilltop Drive, North Caldwell, Essex County, New Jersey K. Hovnanian @ North Caldwell to Pulte Homes of N.J., LLC Date: July 21, 2017 Sale Price: $12,710,000.00 Block: 101 Lot: 3.01 Zone: R-30 Book: 20170 Page: 71524 Acres: 31.01 Approvals: 62 Single Family Residences Analysis: Sale reflects $205,000.00 per residential building lot, unadjusted. Comment: The property was conveyed with development approvals in place for a sixty- two (62) lot single family development to be known as the Reserve at North Caldwell. The development will consist of six (6) basic models ranging in size from 2,794 square feet to 3,544 square feet on half-ace sites. The base prices start at $834,990.00. [ | ees ~ 70 - a & RESEARCH