inflated square footage claims

it's certainly not a consistent practice.

it's often not easy, with apartment combinations and the like. in some cases the square footage for a condo will differ from what the tax man has recorded. because the owner makes changes and doesn't file them.

what really irks me is when someone includes outdoor space in the total, and does not indicate/explain. i recently saw an 1700 sqft apt listed as having 2500 sqft because they were including outdoor space. and the owner of the apt is a broker.

One issue is that offering plans generally offer measurements based on the structural design. Once the apartment is finished with walls, etc, there is far less usable space.

after my long house hunt, i have realized that the sqft given by the sellers does not matter. With complicated condo/co-op sqft measurement rules, there is no consistent way to measure sqft and thus a 600 sqft studio can be much bigger than a 625 sqft one bedroom. based on my experience, deduct 150-200 sqft from every 1000sqft to comeup with true number.

maybe 150-200 sq ft / 1000 for condos, but usually co-op re-sales are much closer to reality. Mine was listed a 450 sq ft, and the appraisal report came in at 420 : 67 sq ft per 1000.

OP here. Given the seeming meaninglessness of the square footage numbers listed, how does one approach making a bid? It seems like you can't get reliable $/sq. ft. figures, since the sq. ft. figures are all inflated . And, you need to subtract from the listed square footage to make a bid (if you're basing it on $/sq.ft.).

Thanks!

I would not base a bid completely on $/sq ft. What if one place has a useless hallway that totals an extra 30-50 sq ft? For my apt, I noticed that it was off by 1/2 foot on either side (ie if you add that in, then it matches the decription). Asked the super and he confirmed there is about a foot between apts. So for the coop's sq ft numbers to total properly, each apt is assigned 6 inches of the (unusable) space in between.

Everyone sees the world differently & if you're an analytical type I guess you want figures & more figures & x times y equals z but when you're talking about your abode there are so many intangibles. How does the building feel to you? Is it a nice area with all the amenities you want? Is there a great view from the kitchen that you can enjoy while you're washing the dishes? Can you lay out all your furniture for a pleasing interior? If you get a feel for the market & the area, you'll know if the price seems right & what the unit is worth to YOU.

I pulled out a tape measure at every apartment I visited. The worst case I saw was an overstatement of 100 square feet. The others were very close to the advertised size.

tape measure all the way!!

I visited an apartment yesterday listed at 1100 sq. ft., but doing the math based upon the listed unit dimensions and the most generous definition of square footage, that 1100 was off by 275 sq. ft.

Are you listening, Fern?

Sellers and listing brokers have a huge incentive to exaggerate the square footage. With Manhttan co-ops selling for $1,000 psf and Manhattan condos for $1,250+ psf, exaggerating the square footage on an 800 sf apartment to 1,000 square feet (a 25% increase) means an extra $200,000 to $250,000 for the seller. For the selling brokers, it means a permanent 25% increase in their compensation since they get 6% of the sales price and 1 sale at an inflated price provides the basis for comparable sales which influence all future prices. The remedy is simple buy a high quality 25 foor tape measure and a laser measure ($40) and measure for yourself.

Or stipulate in the offer that its is contingent upon the square footage representation being exact.

Has anyone seen the definition of how to measure sq ft in condos/co-ops in new york state?