When London apartments are combined, the price can grow to as much as 4,000 pounds a square foot, according to Hooper. After construction costs, the gain is typically about 30 percent, he said.
Owners are “approaching their next-door neighbors or those in the apartment above them and just asking, ‘are you interested in selling?’” Hooper said.
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Response by deanc
almost 12 years ago
Posts: 407
Member since: Jun 2006
we joined 3 studios together in Brooklyn heights (2 in 2008 and one more last year), love it.
couldn't have afforded to do it any other way.
still got a ton to pay off the bank etc but spreading the costs over a number of years really helped (eg we couldn't have afforded 3 in 2008) and having the new studio as a "master floor" with large bathroom and sep shower/tub and super sized walk in closet is fantastic (and gives the 2 of us "getting away room" to go and read a book etc and not be near the other person etc).
the only downside I can see is that NYC hasn't reduced the city taxes etc to reflect 2 less apartments in the building but you knew that wasn't going to happen right).
When London apartments are combined, the price can grow to as much as 4,000 pounds a square foot, according to Hooper. After construction costs, the gain is typically about 30 percent, he said.
Owners are “approaching their next-door neighbors or those in the apartment above them and just asking, ‘are you interested in selling?’” Hooper said.
we joined 3 studios together in Brooklyn heights (2 in 2008 and one more last year), love it.
couldn't have afforded to do it any other way.
still got a ton to pay off the bank etc but spreading the costs over a number of years really helped (eg we couldn't have afforded 3 in 2008) and having the new studio as a "master floor" with large bathroom and sep shower/tub and super sized walk in closet is fantastic (and gives the 2 of us "getting away room" to go and read a book etc and not be near the other person etc).
the only downside I can see is that NYC hasn't reduced the city taxes etc to reflect 2 less apartments in the building but you knew that wasn't going to happen right).