buying: How to determine the value of outdoor space / balcony / terrace / rooftop
- 05/23/07 05:06 AM
There really is no exact science to determine the value of an apartment with a terrace, balcony or an outdoor space. So how do you determine the value of one property to the other? Well...after some reacearch I have come up with a general concensus of what the majority of the agents and brokers use in NYC. Outdoor space tipically carries a value of 33% to 50% of what the interior price per square foot is. A new full service luxury building should be valued at the 50% mark and the older buildings with no doorman and lacking on the ammenities should … (0 comments)
buying: The Art Of Buying New Construction / Pre Construction /New Development
- 05/23/07 04:55 AM
Buying pre construction is the "ART" of purchasing property prior to its completion. You are basically buying a unit based from a floor plan, artist renderings, and or building model. In my eyes pre-construction is one of the greatest ways to buy property in New York. Many New Yorkers purchase these types of properties, live in them for a few years and start the process all over again while seeing great appreciation on their property. I personally know of a family who moves every 2 to 3 years and lives off of the profit that they make on every transaction. Granted … (0 comments)
There really is no exact science to determine the value of an apartment with a terrace, balcony or an outdoor space. So how do you determine the value of one property to the other? Well...after some reacearch I have come up with a general concensus of what the majority of the agents and brokers use in NYC. Outdoor space tipically carries a value of 33% to 50% of what the interior price per square foot is. A new full service luxury building should be valued at the 50% mark and the older buildings with no doorman and lacking on the ammenities should … (0 comments)
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