Small apartment changes can make a big difference in price

TRD New York /
Feb.February 22, 2011 02:09 PM

Small details which affect the appearance of an apartment can change the ultimate sales price by 5 to 10 percent, brokers told the New York Times. While chipped plaster or broken bathroom tiles can knock $500 to $5,000 off an offer, $1,500 floating walls can add $50,000 to $70,000, and a $10,000 paint job easily adds $50,000 to the price, according to an informal survey of New York City brokers. According to Douglas Heddings, founder of Heddings Property Group, cluttered apartments can linger longer on the market and sell for less. For higher-end units, grouting, along with moving around furniture and adding lighting, will bring in at least $100,000 more for an apartment that is at least $3 million, according to Deanna Kory, a senior vice president at the Corcoran Group. She advised the seller of an eight-room apartment in the West 80s to spend a few hundred dollars on regrouting. Replacing cabinets, adding new fixtures and buying fresh pillows can also bring in a better offer, brokers said. [NYT]

 

Related Articles

arrow_forward_ios
49 East 10th Street and Barbara Corcoran (Credit: Google Maps and Getty Images)

Corcoran to shut down office in building partly owned by Barbara Corcoran

Corcoran to shut down office in building partly owned by Barbara Corcoran
Corcoran President & CEO Pamela Liebman (Credit: Corcoran, Getty Images)

Welcome to Queens: Corcoran opens first borough outpost

Welcome to Queens: Corcoran opens first borough outpost
Corcoran CEO & President Pamela Liebman (Credit: iStock)

Corcoran begins new lead-gen push via Facebook ads

Corcoran begins new lead-gen push via Facebook ads
Realogy CEO Ryan Schneider and SIRVA CEO Thomas Oberdorf

Judge rejects Realogy’s bid to force $400M sale of Cartus

Judge rejects Realogy’s bid to force $400M sale of Cartus
Corcoran's Pam Liebman and Bespoke's Cody and Zachary Vichinsky. Inset (clockwise from left) Zibby Schwarzman, Vera Wang, Barry Weiss, Mohammed Grimeh, and Ian Snow (Getty, Abana, Wikipedia Commons; Liebman by Sasha Maslov)

Corcoran exposes Bespoke’s little black book in Hamptons legal battle

Corcoran exposes Bespoke’s little black book in Hamptons legal battle
Quarantine Cribs

TRD Quarantine Cribs: Take a tour of Cathy Franklin’s whiskey distillery & home

TRD Quarantine Cribs: Take a tour of Cathy Franklin’s whiskey distillery & home
(Credit: iStock)

Rental concessions are on the decline, but the size of incentives is growing

Rental concessions are on the decline, but the size of incentives is growing
Realogy CEO Ryan Schneider 

Realogy’s 2019 revenue slides 3% to $5.6B

Realogy’s 2019 revenue slides 3% to $5.6B
arrow_forward_ios

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

Loading...