I've been asked if there are any rules in determining square footage in apartments and townhouses. We all know that buyers of apartments and townhouses in New York City
often look to the approximate square footage of a property as a
measurement for a property’s value. Indeed, often one of the key factors
for a buyer in their decision to purchase is a calculation of the cost
or price-per-square foot of an apartment or townhouse.
It is important to keep in mind, however, that the approximate square footage of an apartment is often just that – an approximation.
Different appraisers or professionals may use different methods or
standards in coming up with their square footage figures. Some will
determine square footage of an apartment by measuring the space between
the interior walls, including bathrooms, closets and foyers, while
others may use exterior walls or other benchmarks. Some will include
unusable floor area such as columns, mechanical pipe shafts and chases
in their calculations.
Moreover, many Manhattan apartments, including
pre-war buildings, often have hard-to-measure elements like oddly shaped
rooms, removed walls, or even turrets or alcoves. This is especially
true for many of New York City’s oldest and most prestigious residences. In addition, while many cooperative apartment buildings may have filed
floor plans with the Attorney General’s office as part of their
offering plans, those floor plans may not be up to date. Condominium
offering plans also include floor plans and measurements, but developers
often use different methods for measuring the square footage of their
respective units. For example, some will include hallways or foyers or
bathrooms in their square footage figures, others will not.
Offering
plans will only tell you the approximate square footage and the method
used to measure it by the developer at the time of construction or
conversion. Plans will not tell you how the square footage is measured
at the time of a resale.
All potential purchasers should be made aware that all square footage
measurements that are provided by brokers are usually just estimates,
and are not certified or deemed reliable by either the listing firm or a
participating co-broker. In addition, a buyer determined to have a
square footage measurement should consult or retain their own
professional, and have that professional explain the methodology for
the measurement.
This blog site is designed and published as a consumer service by local real estate broker to help Manhattan, New York City buyers, sellers and renters make informed real estate decisions.
This site and its feeds are owned and operated by Mitchell J Hall, a NY State licensed real estate associate broker associated with The Corcoran Group and member of the Real Estate Board of New York.
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