Black Rock, Bridgeport, CT 06605 · Open to Developer Partners
168 Elsworth Street
Black Rock · Bridgeport, CT 06605 · Fairfield County
A rare infill lot in one of Connecticut's most coveted coastal neighborhoods. Zoned R-1 residential — suitable for single-family home, duplex, or small multi-unit. Steps from Yellow Horse Bistro, the Black Rock商业 district, and the Seaside Park waterfront. 0.5 miles to the Bridgeport train station (Metro-North, 60 min to Manhattan).
Build for half the cost — keep the land.
The math has shifted. New construction in Black Rock costs $600K–$800K all-in — materials, labor, permits, financing. Comparable homes sell at $553K median. Developers are caught in a cost squeeze.
The ground lease model breaks the impasse. The landowner retains the land. The developer avoids the land purchase — typically 25–35% of total project cost. Capital requirements drop significantly. The developer builds, operates, and shares rental income. Everyone wins.
| Metric | Value |
|---|---|
| New construction cost estimate | $600K–$800K |
| Black Rock median home sale | $553K |
| Monthly rental — single-family | $2,500–$3,200/mo |
| Land as % of total project | ~25–35% |
| Target ground rent (est.) | $1,500–$2,500/mo |
| Sources: Zillow, Apartments.com, Bridgeport Building Dept (2025 permit data), local agent estimates | |
Landowner retains title. Developer leases the land long-term, builds, operates, and manages. Monthly ground rent flows to the landowner — passive, predictable income.
Landowner contributes land as equity. Developer brings construction capital. Ownership split — proceeds divided by agreed equity percentages. Higher upside, more involvement.
Estimates based on comparable ground lease and land-valuation data in Bridgeport / Fairfield County. Actual terms subject to developer negotiations and formal appraisal.
| Type | Address / Source | Value / Rent | Notes |
|---|---|---|---|
| Land Sale | Near Seaside Park, Black Rock | $150K–$250K | Raw land / teardown comps, 2023–2025 |
| Land Sale | Black Rock (various) | $180K–$320K | Approved lot ready to build |
| Rental — SFH | Apartments.com / Zillow, Bridgeport | $2,500–$3,200/mo | Single-family, 3–4BR |
| Rental — SFH | Craigslist, Black Rock area | $2,200–$3,400/mo | Active listings, 2025 |
| Construction | CT market avg. | $250–$350/sq ft | New single-family, all-in |
| Sale — Existing | Black Rock median | $553K | All home types, 2024–2025 |
This memo is a starting point — not a contract. Actual ground rent, lease terms, and equity splits are negotiated deal-by-deal. BridgeVest connects landowners with vetted developers. Let's talk.