The Mendota Heights Condo with 7,400(!) Square Feet: Sum of Parts > Whole?

Sub(Divide) and Conquer If it could be done easily and profitably . . . somebody already would have done it.” –Ross Kaplan’s 2nd Law of Real Estate Development. [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced. If you...
Read More

Leveraging an Already Dramatic Lake View

(Sub)Divide & Conquer So, how do you make an already dramatic lake view (in this case, overlooking Plymouth’s Medicine Lake) even more dramatic? By splitting it in two. Specifically, by adding a floor — ceiling if you’re on the lower level — that merges the newly created upper level with the Kitchen/living area on the...
Read More

Can That 80′ Wide Lot Be Split? Short Answer: “It Depends” (on the City)

Adding Value by (Sub)Dividing Given the combination of an (over)heated Twin Cities housing market; high demand for new construction; and housing stock which can be functionally obsolete if not in disrepair, it should be no surprise that there are plenty of local homes that are worth less than the land underneath them. That’s especially so...
Read More

(Sub)Divide & Conquer by Minneapolis’ Cedar Lake

Two (Oversized?) New Homes in Place of One I know firsthand that the neighbors aren’t thrilled with the increased density (I live nearby). Nor are they happy with the size of the new homes, which dwarf the next-door homes in both height and finished square feet. But, I certainly understand the business logic of the...
Read More

(Sub)Divide and Conquer

Can’t Sell It?  Sub-Divide It! As has been painfully noisily clear the last week or so, the landlord’s solution to filling the hard-to-lease retail space — directly below the Edina Realty – City Lakes office in Calhoun Village — has been to subdivide it. So, instead of the 3,000 square foot-plus space formerly occupied by Hollywood...
Read More