Luxury amenities, like pet spas and yoga studios, have been popping up in all kinds of new developments across the city, but a simple working hearth might be a bigger draw for many buyers. According to DNAinfo, New York’s cold winters have made working fireplaces in areas like the Upper West Side the most coveted of the neighborhood’s amenities.
“It’s alluring. It’s charming. It’s cozy,” Mike Mishkin, CEO and founder of Love Where You Live Realty, which specializes in the Upper West Side market, said. “It definitely adds a premium. [The apartment] might rent at a higher price. It might rent faster.”
According to Mishkin, buyers who had no intention of moving to the Upper West Side sometimes will after discovering the neighborhood’s functioning wood-burning fireplaces.
And despite the liability for building owners, stronger interest in the unit can sometimes be worth the risk. [DNAinfo] —Christopher Cameron