Price per sq foot

It's the wild west bro.
Always bring your ruler.
And always point out desrepencies you find.
The more buyers bring it up. The more sellers and their agents realize it reflects poorly on their listing.

What about looking at the offering plan that they have to file when the current owner purchased the unit?

so I just read what I posted, ah caramba, going back to grammar school....Ask to see the original offering plan. Another place to look is at the attorney general's office.

Beantown
No worse than my butchering the word "discrepancies!"

In condos, in particular, certain amounts of public space are ascribed to the sq/ftage of a given unit. In a coop offering prospectus, this is not the case. Sq/ft quoted in coop sales by owners, however, then to be exaggerated.

kylewest, in the condo docs the declarant will cite the "approximate square feet of unit" and in another column the unit's PCI. In another section the method of measurement will be described. I always read here that common areas are divvied up by the PCIs and included in unit square feet, but never seen it in condo docs. Then again, I've read only tens of them, so maybe just not come across it, and have never gone out with surveying tools to measure units.

nyc_observer, if looking at a condo, first thing you should do is an ACRIS search to see who owns it, how much they paid, any liens, and the condo declaration. Use the latter to see the unit's size and check against the listing.

Every unit currently trades at $657.456789 per square foot. You just have to adjust the square footage to get to the right price.

NWT, i went to acris, and can't seem to find the condo declaration? can you assist me, i see the mortgage and other docs i just can't find the condo declaration?

30 Years, thats not a fair assessment it depends what the monthly fees are? if low monthly then a higher price... there are just too many variables to answer accurately.

dledven, "there are just too many variables to answer accurately" is exactly 30yrs' point. However you measure square feet, a $4,000-per-foot apartment could be a bargain or a rip-off. Ditto for a $200-per-foot apartment.

Post the address (no apt# necessary) and I'll post a link to the condo declaration. It's filed for every unit/lot of the condo. Maybe you're thinking of a co-op. Co-op governing docs aren't on ACRIS.

NWT- 79 Worth Street
thanks

NWT-its a Condo-

dledven, the condo isn't effective yet, so no declaration filed. That's why you don't see any sales yet; there can't be until the condo's effective, the new tax lots created, etc.

i understand that but i thought i could still see the offering plan? that has to be filed with AG? ami i wrong?

Sponsors don't file offering plans with the city, so they're not on ACRIS.

Last time I checked, a while ago, the AG didn't make filed offering plans available online, so you'd have to get a copy from the sponsor.

thanks there used to be a site that would make all offering plans available, i just can't find the link or remember the site. Thanks for your help

I remember the one you mean. They sell copies of offering plans. Mostly old ones, if I recall. It should turn up on google.