Being a "first mover" to develop residential housing is strongly to your advantage, but not necessarily the most important factor. What should you do with your "bundle of rights"?

Option 1: Subdivide the property and sell the portion without the house on it.

Option 2: Wait for the lease to expire and then sell the entire lot.

Option 3: Join witha group of investors who want to buy out the tenant (at any cost)develop the entire property.