Square Footage Inaccuracy

Square footage conversations are generally useless because everybody uses a different ruler. Some use a 12 inch ruler some use a 9 inch ruler. Find real comprable sales and argue based on those rather than trying to argue about the variable square footage.

Condo plan will provide you square footage and measurement method (typically exterior walls are included and some times a portion of common area). You can get one for free from titlevest if they have it. In addition, you can look at recorded sales which also show you the official size. Rental listing square footage means nothing.

All condos have offering plans that clearly specify the square footage of a units. This is the legal square footage of a unit, as all offering plans are filed and reviewed by the Attorney General's office of the State of NY. This is what should be advertised by a seller and his/her agent when selling or renting the property. As mentioned previously, the number will differ from the actual square footage you experience given measurements from the outside of walls and other nuances that typically over estimate the square footage. I would also note that there is often a minor discrepancy between the square footage of seemingly identical units from floor to floor, and that the higher square footage quoted may also include square footage from a storage unit (this is common).

Its hard to comment further without specific information on the property which I would gladly gather and share with you if that would be helpful. This is a big transaction you are considering, and while I know agents are not known for the quantitative prowess, I take a numbers oriented approach given my investment banking background. With the market in a period of transition, especially among trendy Brooklyn condos, you need to be careful that all the details are accurately considered. My contact information is all here on Streeteasy - reach out at anytime!!!

It should also be noted that most of the time the square footage listed in the offering plan doesn't only include the square footage inside the unit, but also the percentage of common interest times the square footage of all the common elements.