Comparables for walkups / Effect of floor?

Unless you have incredible light & great views & maybe even a terrace (on the same level as your living space), I'd think that you'd be lucky if each floor didn't fetch less -

2nd floor best, then 3rd, then depending on building 4th/1st, 5th last. Of course, this is assuming everything else being equal, which it usually isn't due to layout changes (esp 1st and top floors), outdoor space (esp 1st and top floors), ceiling height, blocked windows, etc.

30yrs, what is the "typical" deduction for each extra floor, assuming identical layouts?

How much does someone add for the extra outdoor space? (For private decked rooftop for 5th floor, and for a private garden in the backyard for the 1st floor?) I know that valuing outdoor space is tricky but I am looking for some rough guidelines only. For the sake of discussion, assume 500sqft of outdoor space.

As a very rough estimate assume outdoor space valued at 50% of interior space and $10,000 less per floor above the 2nd floor. But in the example you site, there is a $2MM first floor apt. That is pretty expensive for the first floor in a walk up apt building. Are you talking about a townhouse?

Kyle: Yes, I am talking about townhouses. The 2M value is imaginary.

I am just trying to get a sense of how to estimate the "fair value" in a walkup townhouse based on comps.

$10k per floor is meaningless, it depends on the values. No way a 5th floor walkup is worth $1.96 million if the first floor is $2 million. If you have ever lived in a 5th floor walkup (I have), it is brutal. Most buyers would never even consider it. The discount would have to be huge, I'd say 25-50% lower that high up.

The discount would be less for cheaper apts, as the young and stupid wouldn't consider it such a problem.

If you want a prime example of how all over the map prices can be in walk ups, take a look at the history of recent sales in 35 West 84th St, where almost the whole building turned over within about 1 year's time.

young and stupid it would have to be. I saw 4th floor and 6th floor studio walk ups in ev for sale at about 1000psf for 400sf apartments. Im pretty disposed to walk up stairs quickly but six floors is getting nuts, and even four floors is just tedious after a while. I think two floors is fine, and you;re only really cutting out old ladies at that point.

A friend of mine lives in the infamous apartment above Carnegie deli. I can't imagine buying (or trying to sell) that walk-up.

I'd forgotten about that, and just looked it up: http://www.nytimes.com/2002/06/19/nyregion/two-men-convicted-in-murder-of-three-above-carnegie-deli.html