How much do builders pay for teardowns in Franklin Lakes, NJ?

Since 2019, builders bought 28 older homes and lots in Franklin Lakes that were later rebuilt, paying a median of $825,000, based on State of New Jersey deed records.

What do new homes on teardown lots sell for in Franklin Lakes, NJ?

Of those lots, 6 new homes have resold so far at a median of $4,187,500, typically about 37 months after the builder bought the lot.

Bergen County, New Jersey

Land and teardowns in Franklin Lakes, NJ.

What builders actually paid for older homes and lots in Franklin Lakes, what the new homes on those lots sold for, and land for sale right now.

Franklin Lakes Teardown Report

What builders paid.

Lots in Franklin Lakes where a builder bought an older home or a lot and a new house went up, purchases from 2019 on.

28lots bought by builderssince 2019, later rebuilt

$825Kmedian price builders paidfor the older home or lot

$4.19Mmedian new home price6 of those new homes resold so far

37 mopurchase to new home saletypical time on those projects

The typical new home on those lots later sold for $4.19M, about $3.28M more than the builder paid for the lot, usually about 37 months later. That difference is not profit: demolition, construction, permits and carrying costs all come out of it.

Own an older home or a large lot here? Find out what a builder would pay for yours →

Source: NJ Division of Taxation deed records (SR1A) 2019 to June 2026 matched to state parcel records (NJGIN MOD-IV) showing a house built 2019 or later on the same lot. Purchases after 2023 mostly have not been rebuilt yet, so recent years undercount.

For Sale Now

Land and lots for sale in Franklin Lakes.

Live from the MLS and updated all day. If nothing shows, there is no land listed right now. Many of the best lots never hit the market: builders buy older homes instead.

Before You Decide

Know what your Franklin Lakes lot allows.

Franklin Lakes market reportEvery home sold, median prices and the agent who knows the town.Land and teardowns in Franklin LakesWhat builders paid for older homes, and lots for sale now.What can you build on your lot?Enter an address: zoning, lot size and roughly how big a new home could be.

Written and reviewed by

Daren Donofrio

REALTOR-Associate, Builders Resource Center at Corcoran Sawyer Smith. Works with owners and builders in Franklin Lakes. Numbers updated September 2026.

About Daren · (814) 574-8629