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A little square footage fun for a Thursday evening

Started by West81st
over 17 years ago
Posts: 5564
Member since: Jan 2008
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Response by newbuyer99
over 17 years ago
Posts: 1231
Member since: Jul 2008

I'd say the first one by 100-150SF. Why?

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Response by yournamehere
over 17 years ago
Posts: 172
Member since: Mar 2007

#1 looks to be approx 1300sf, #2 about 1050sf.

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Response by West81st
over 17 years ago
Posts: 5564
Member since: Jan 2008

Newbuyer99 - Mostly for fun, but I also wanted to sanity-check my own calculation: around 1300 for #1 and a little over 1100 for #2.

Oddly, they're the same size, give or take a foot.

#1 1305 sq. ft.
http://www.streeteasy.com/nyc/sale/342278-coop-155-west-70th-street-lincoln-square-manhattan

#2 1304 sq. ft.
http://www.streeteasy.com/nyc/rental/358869-condo-219-west-81st-street-upper-west-side-manhattan

To be fair, Corcoran is just taking the sponsor's word on the size of the F line:
http://www.streeteasy.com/nyc/sale/276959-condo-219-west-81st-street-upper-west-side-manhattan

That Corcoran listing also offers a fun exercise in rent/buy math. The owner paid a little under $1.8MM, plus closing costs. He couldn't rent it for $7800 in June. He couldn't get $6995 in July. It doesn't look as though propspective tenants are banging on his door at $6250 in August. The cash flow picture is getting ugly. Where's the strong rental market we keep reading about?

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Response by West81st
over 17 years ago
Posts: 5564
Member since: Jan 2008

By the way, kudos to little on-site Sherwood Residential for honest square footage. When the same apartment, #3E, was listed with BHS, it had an extra 25 sq.ft.:
http://www.streeteasy.com/nyc/sale/209567-coop-155-west-70th-street-lincoln-square-manhattan

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Response by hsw9001
over 17 years ago
Posts: 278
Member since: Apr 2007

I got 1260 for #1 and 1002 for #2. Hmmm seems like I tend to underestimate compared to you guys.

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Response by front_porch
over 17 years ago
Posts: 5316
Member since: Mar 2008

No way are they nearly the same size. #2 is a condo, and as such the stated square footage is allowed to include portion of the building's common elements -- but the apartment's footprint is roughly 40 by 25.

If the floorplan measurements are true as stated, #1, the co-op, is nearly 30% larger.

ali r.
{downtown broker}

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Response by West81st
over 17 years ago
Posts: 5564
Member since: Jan 2008

Thanks, Ali. I thought the problem might be partly a condo vs. coop thing. The rule difference plays out in a weird way here, because the condo is an old pre-war building and the coop is post-war.

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Response by hsw9001
over 17 years ago
Posts: 278
Member since: Apr 2007

BTW, 155 West 70th is the Coronado, and the last time I looked it was a condo not a coop. I assume listing it as a coop a mistake or did something happen?

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Response by front_porch
over 17 years ago
Posts: 5316
Member since: Mar 2008

Oh, sorry, I trusted the word "co-op" in the Coronado listing, and so I didn't check the footprint.

Clearly, its "broker stated square footage" is going to include some common elements too.

So let's call width (11+14+10+10) = 45 times length of 28 = footprint of 1260 -- (HSW was correct about this) then you'll actually lose about 60 sf where that bedroom juts out on the right, so call it 1200.

That makes it 20% bigger than the other one. My bad.

ali r.
{downtown broker}

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Response by West81st
over 17 years ago
Posts: 5564
Member since: Jan 2008

Thanks, Ali. Are there rules for which common elements are eligible for inclusion in square footage calculations?

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Response by front_porch
over 17 years ago
Posts: 5316
Member since: Mar 2008

I don't know the answer to that, west81st --

Shooting from the hip I'd say hallways, lobby, elevator-- (I don't think you can, say, divide the super's apartment and assign portions to the other residents) -- but I am generally not a new dev girl so that's just a guess.

Contrary to my usual co-op leanings, I do have a 300-page condo offering plan on my desk so I'll see if it says anything else particularly interesting, but

johnrealestate -- are you here? -- do you have a more technically precise answer?

ali r.
{downtown broker}

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