Current Valuation with As of Right and New 2022 IZ [Inclusionary Zoning] Land for development: 1.551 acres Value without Approvals $38-41. per SF acquisition rate Entitled Rate: $66.70 per SF acquisition rate per March 2026 comp Minimum Value 405,370 sf x 66.70. = $ 27,038,179. Update: June 1, 2026 Comps With Full or Preliminary Entitlements: 506,712.5 x $66.7 per foot = $33.8 million UPDATE: June 1,2026: Based upon recent sales, 1144 Chapel Street March 2026 sale in the CBD, the future value is now $66.70 per square foot for a new development OM https://heyzine.com/flip-book/210a79f468.html As of Right Floor Area allowed: 405,370 sf With Inclusionary Zoning: 506,712.5 sf x $38. per foot = $19,255,075. Value without approvals Update: June 1, 2026 Comps With Full or Preliminary Entitlements: 506,712.5 x $66.7 per foot = $33.8 million Preliminary approvals are available with a contract to purchase and a non-refundable deposit.