It’s fine to covet your neighbor’s apartment, but you may have to pay

Buyers shell out an extra 10% to expand into alluring adjacent units

TRD New York /
Feb.February 12, 2016 08:46 AM

With big apartments so hard to come by in the city, there’s no shame in dreaming of expanding your own cozy unit into your neighbors’ seemingly-equally cozy space.

But, you’ll have to pay – with premiums running 10 percent more – and even then it may not come easy, the Wall Street Journal reported.

Douglas Elliman broker Adam Solomon “did a dance for a solid two years” with his East Side neighbors. They rebuffed his original offer, then, a year later, came back at him with an offer of their own.

Solomon and his husband finally bought the unit, paying roughly $15,000 over market value in his estimation, according to the Journal.

Late last year, writer and actor Tina Fey made like her “30 Rock” character Liz Lemon and bought out her upstairs neighbor at 300 West End Avenue, paying $9.5 million for a four-bedroom unit.

Her former Saturday Night Live co-star, late-night host Jimmy Fallon, bought himself a fifth unit in his Flatiron building, at 34 Gramercy Park East, where he first settled in 2002. [WSJ]Ariel Stulberg


Related Articles

arrow_forward_ios
From left: Milos Raonic, Venus Williams, Serena Williams and Novak Djokovic (Credit: Getty Images)

Luxury real estate anyone? US Open stars and their palatial pads

Lena Dunham and 60 Broadway (Credit: Getty Images)

Lena Dunham’s “massive real estate mistake”

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Elsa Segura (left) was arrested in connection to realtor Monique Baugh's (right) murder (Credit: iStock)

Second suspect charged in real estate agent’s abduction, murder

Clockwise from top left: John Gomes, Ronita Kalra, Eric Beniam and McKenzie Ryan (Credit: Getty Images, iStock, Wikipedia)

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

Sarah Jessica Parker and Matthew Broderick's townhouse is on Charles Street (Credit: Getty Images, Google Maps)

Sarah Jessica Parker, Matthew Broderick shopping $19M townhouse

Flo Rida is building a vodka distillery in Fort Lauderdale Opportunity Zone

Flo Rida is building a vodka distillery in Fort Lauderdale Opportunity Zone

arrow_forward_ios
Loading...