A new price breakdown shows how much co-op and condo owner pay by floor

Click image to see a floor-by-floor chart of average prices

It is not exactly breaking news that prices go up with an apartment’s floor number. But just how much they go up may surprise you. At The Real Deal‘s request, Jonathan Miller, president and CEO of the appraisal firm Miller Samuel, analyzed closed 2009 co-op and condo sales in Manhattan. The results show that not all floors are created equal when it comes to price jumps. The first floor was the odd man out, and the only one where per-square-foot prices were below $800. The second floor logged the first major “price break” — a 19 percent jump.

[more]

A new price breakdown shows how much co-op and condo owner pay by floor

Click image to see a floor-by-floor chart of average prices

It is not exactly breaking news that prices go up with an apartment’s floor number. But just how much they go up may surprise you. At The Real Deal‘s request, Jonathan Miller, president and CEO of the appraisal firm Miller Samuel, analyzed closed 2009 co-op and condo sales in Manhattan. The results show that not all floors are created equal when it comes to price jumps. The first floor was the odd man out, and the only one where per-square-foot prices were below $800. The second floor logged the first major “price break” — a 19 percent jump.

[more]

From the November issue: In post-Madoff, post-Lehman Brothers New York, co-op and condo boards
are taking a turn as gumshoes. Experts say buildings are now conducting
increasingly extensive, and often costly, background checks of
prospective buyers. The investigations include everything from
reviewing litigation history — to see whether the buyer has been
involved in a lawsuit — to searching sex-offender registries. And to
make sure prospective neighbors are properly vetted, more boards are
now hiring private detective agencies. Andrew Harris, CEO of the 110-year-old, Manhattan-based
investigative firm Bishops Services, said he’s seen an uptick in
business recently from residential buildings, and that clients are now
requesting more in-depth searches.
[more]