An assemblage is a combination of two or more adjacent lots into a single larger development site, which allows developers to build a project that would not be possible on the smaller individual lots

In NYC, assemblages are commonly used when lots are zoned for high density development, for example an R10 zoning, but smaller lot sizes restrict the efficient development of these type of buildings. These developments would need more frontage and site depth to support efficient buildings, and this can be very difficult to achieve, this is where assemblage comes in. Combining 3 sites with 33 ft of frontage each would achieve almost 100 combined allowing developers to build much better buildings compared to what they’d be able to do with just one.

For owners, being a part of an assemblage can help them drive more value for their properties, far more than what they would get selling their property as a single lot. Developers are willing to pay premiums for sites that would be part of an assemblage as it would increase the value & efficiency of the properties they build on the lot due to the increased size.

A common misconception with owners is that they think they can hold on to the site trying to leverage it to get as much as they can from developers, while they will get premiums for selling, if they are asking for prices which don’t financially make sense, a developer may forgo that lot and construct without having their property as part of the assemblage.

Example: If an owner has a lot with an area of 5,000 square feet zoned for 4 FAR, it would have 20,000 buildable square feet. If it were a property that were a part of a 25,000 square foot assemblage, that site would have 100,000 buildable square feet. Which would create a significantly larger opportunity for a developer and a more efficient site, thus allowing the developer to pay more for that same parcel of land.