How much do builders pay for teardowns in New Providence, NJ?

Since 2019, builders bought 16 older homes and lots in New Providence that were later rebuilt, paying a median of $461,250, based on State of New Jersey deed records.

What do new homes on teardown lots sell for in New Providence, NJ?

Of those lots, 7 new homes have resold so far at a median of $1,499,000, typically about 18 months after the builder bought the lot.

Union County, New Jersey

Land and teardowns in New Providence, NJ.

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

New Providence Teardown Report

What builders paid.

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

16lots bought by builderssince 2019, later rebuilt

$461Kmedian price builders paidfor the older home or lot

$1.5Mmedian new home price7 of those new homes resold so far

18 mopurchase to new home saletypical time on those projects

The typical new home on those lots later sold for $1.5M, about $1M more than the builder paid for the lot, usually about 18 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 New Providence.

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 New Providence lot allows.

New Providence market reportEvery home sold, median prices and the agent who knows the town.New construction in New ProvidenceRecent new-home sales, sizes and price per square foot.Land and teardowns in New ProvidenceWhat 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

Tonye Ikiere

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

About Tonye · (732) 913-9250