Narrow townhouses can be a tough sell

New York /
Dec.December 27, 2010 05:43 PM

Since many townhouse buyers insist on properties at least 20 feet wide, narrower homes can be difficult to sell, brokers told New York magazine. “The challenge is getting people through the door,” said Nan Shipley of Rand Realty, who is currently marketing a four-bedroom, 15-foot-wide Townhouse On West 95th Street. Jed Garfield, whose firm Leslie J. Garfield & Co. specializes in brownstones and townhouses, said he has never heard anyone say that they want a smaller house. “People almost always end up there by default,” he said.

According to appraiser Jonathan Miller of Miller Samuel, narrower houses are rapidly losing market share. Five years ago, houses 16 feet wide or less accounted for 25.9 percent of townhouse sales; in 2010 (as of Dec. 15), they constituted just 16.2 percent. Townhouses that are from 17 to 19 feet wide dropped to 33.8 percent of sales in 2010 from 37.4 percent of sales in 2005. The average square footage of houses sold in Manhattan has been rising every year since 2007. However, Garfield added, smaller homes may not necessarily be a bad place to live. “The challenges are, really, 100 percent a mental thing,” he said. “Quite frankly, narrower townhouses tend to be better laid out.” [NY Mag]

 

Related Articles

arrow_forward_ios
Manhattan rents rise
As July rents notch another record, brokers eye August dip
As July rents notch another record, brokers eye August dip
Contracts, Douglas Elliman, Jonathan Miller, Miller Samuel
Contract signings for homes plunge, yet inventory stays low
Contract signings for homes plunge, yet inventory stays low
(Photo Illustration by The Real Deal with Getty Images)
Long Island, Hamptons sales slow and listings tick up
Long Island, Hamptons sales slow and listings tick up
Thor Equities’ Joe Sitt with 60 East 66th Street (Thor Equities Group, Leslie J. Garfield & Co)
Thor Equities still trying to sell Lenox Hill townhouse after 10 years
Thor Equities still trying to sell Lenox Hill townhouse after 10 years
A photo illustration of rising rents in New York City (iStock)
“Barring a recession,” record-breaking NYC rents will keep rising
“Barring a recession,” record-breaking NYC rents will keep rising
From left: Tyler Whitman, Ryan Serhant, Kirsten Jordan, Frederik Eklund, and Steve Gold from "Million Dollar Listing New York" (Kareem Black/Bravo, iStock)
Bravo pulls the plug on “Million Dollar Listing NY”
Bravo pulls the plug on “Million Dollar Listing NY”
Henry Wells and 158 Clinton Street (Wells Fargo, Street Easy)
American Express tycoon’s 174-year-old townhouse tops BK luxury market
American Express tycoon’s 174-year-old townhouse tops BK luxury market
Cooling, Market
The stats don’t lie: NY’s housing markets are cooling
The stats don’t lie: NY’s housing markets are cooling
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...