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

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


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