Assume you are a real estate investor. Target a specific New York City investment property for investigation and analysis. Inspect the property to the extent possible. Collect as much data as you can on the issues identified below. Write a preliminary due diligence report which presents and discusses the data that you collected on your property in a narrative format. The documents should be attached to the report and be referred to as Exhibit 1, Exhibit 2, etc. Use a professional writing style (avoid personal pronouns) and include citations in the narrative and bibliography. You may use APA or MLA format.
Property Description
1. Geographic location, photo, map
2. Size (if land, number of acres; if built, number of stories)
3. New or existing construction
4. Market and SubMarket
5. Proximity to transmit/infrastructure?
6. Approximate amount of rentable space?
Map and legal description.
Title and Ownership Issues
1. Who holds legal title to the property? (Fee simple or leasehold)
2. Are there any mortgages or liens recorded against the property?
3. Any recorded or known leases?
4. Any recorded easements or restrictive covenants?
Deed, ground lease, net lease
Property Condition Assessment
A. When was the property built?
B. What is its construction? (brick, steel, woodframe, etc.)
C. What is the flood risk level?
D. What is the propertys overall physical condition?
E. Any building, health or safety code violations of record?
F. Any environmental risks posed that could affect value?
by age (pre1978 leadbased paint)
by use (manufacturing/industrial)
by location (EPA)
Photos of multiple elevations, if possible/aerial shot Violation search report
Zoning and Land Use Constraints
A. What is the propertys zoning map designation?
B. What are the permissible uses of the property under current zoning laws?
C. What uses are prohibited?
D. Is the property a landmark or located in a landmark district?
E. FAR: How big is the lot? What is the propertys Floor Area Ratio? Are
there setback requirements in this district? Is the lot fullybuilt?
NYC Zoning and Land Use (“ZOLA”)
http://maps.nyc.gov/doitt/nycitymap/template?applicationName=ZOLA
NYC Dept. of Finance Automated City Register Information System (“ACRIS”)
http://a836-acris.nyc.gov/CP/
NYC Dept. of Buildings – Buildings Information System
http://a810-bisweb.nyc.gov/bisweb/bsqpm01.jsp
