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Square feet

Started by Snax
about 16 years ago
Posts: 4
Member since: Mar 2009
Discussion about
How does one quickly find the official square footage of a unit? A unit we are looking at has different reported SQF in different places, and the floor plan adds up to about 20% less than the posted SQF. The appraiser has not looked at it yet, but the quality of appraisers varies greatly. Thanks!
Response by nyc_sport
about 16 years ago
Posts: 809
Member since: Jan 2009

If it is a condo, look in the offering document, which will have square footage and also list how it was calculated, which usually is from the interior of the exterior walls, and includes all dead wall space. If it is a co op, get a tape measure.

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Response by patient09
about 16 years ago
Posts: 1571
Member since: Nov 2008

The only true measure of sqft is that which you can walk on. Pretend you are going to install carpet or hardwood. Go measure it. Every other metric is worthless.

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Response by PMG
about 16 years ago
Posts: 1322
Member since: Jan 2008

Condo offering plans, on ACRiS, give fairly accurate measurements. The exception seems to be condos built this past decade which often include a % interest in the common elements, along with the actual square footage.

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Response by NWT
about 16 years ago
Posts: 6643
Member since: Sep 2008

If a co-op, there is no "official" square footage. The offering plan, which is likely to be decades old and is not on ACRIS, will list how many of the corporation's shares "belong" to the apartment you lease from the corporation, but will list the size of the apartments only in terms of rooms and baths. The square footage you see in ads comes from building legend, the ads for previously-sold apartments in the same line, previous appraisals, best guesses, etc. Smart brokers don't list square footage at all, unless they want to get into arguments with every square-footage-obsessed browser who sees the place.

If a condo, the condo declaration will be on ACRIS, but not the offering plan. Doesn't matter, as both describe units the same way. There's a section titled "Dimensions of Units" that describes how the "approximate square footage" of the units was arrived at. There'll be other sections describing the Common Elements, the Residential Common Elements, the Commercial Common Elements, the Residential Limited Common Elements, and so on, as appropriate.

Then there'll be a schedule listing the approximate square footage of each unit and of any balconies or terraces. The approximate square footage does not include the unit's share of the Common Elements. On the same schedule is each unit's Percentage of Common Interest (PCI). The PCI determines how the building's running costs are allocated between the units. The PCI is determined by several factors, explained in detail, only one of which is the units' square footage.

You can always develop your own method, as many posters here have, but if that method is extremely detailed and precise it'd also be time-consuming if applied to every apartment you look at. After looking at enough floor plans you'll get a sense for overall size, key dimensions that matter to you, layout factors, etc.

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Response by Snax
about 16 years ago
Posts: 4
Member since: Mar 2009

Thanks much for your comments! Acris does not have a listing for this apartment. I measured it as 18% smaller than the declared size, which, to me, is a misrepresentation (regardless of the number of shares I get in the building).

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Response by Rent_or_Buy
about 16 years ago
Posts: 165
Member since: Feb 2009
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Response by West34
about 16 years ago
Posts: 1040
Member since: Mar 2009

patient -- although this has been beaten to death in prior threads -- you are completely ignoring the fact that you can knock out interior non-loadbearing walls during a coop renovation and regain that square footage. Therefore "floor area" is NOT square footage of an apartment - it is "area circumscribed by your exterior walls". That's the area you have at your disposal.

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