A little square footage fun for a Thursday evening
Started by West81st
over 17 years ago
Posts: 5564
Member since: Jan 2008
Discussion about
Quick, which of these apartments is larger, and by how much? 1) http://www.sherwoodresidential.com/Pictures/broker_floorplan/569539_fp1831971.gif or 2) http://www.corcoran.com/images/media/UnitFloorplans/567921.1.gif
I'd say the first one by 100-150SF. Why?
#1 looks to be approx 1300sf, #2 about 1050sf.
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?
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
I got 1260 for #1 and 1002 for #2. Hmmm seems like I tend to underestimate compared to you guys.
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}
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.
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?
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}
Thanks, Ali. Are there rules for which common elements are eligible for inclusion in square footage calculations?
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}