New York Insider Tips – September 2015
To make a small Manhattan bathroom appear larger, use larger cut tile. By skipping mosaic and renovating with 12+” tile, you reduce the number of grout lines, which give the impression of cutting the room into smaller sections. This will show much better at resale time, too.
With over 520 miles of shoreline, New York City has the longest waterfront of any major city in the United States. Of that, the island of Manhattan has 60 miles of shoreline, nearly all of it developed or covered by parks such as Battery, Riverside and Carl Schurz.
Appraiser Jonathan Miller did a study to determine the value of natural light to a buyer. He compared two identical TriBeCa lofts of 1,000 square feet, with the only difference being the higher floor loft had ample sunlight with no obstructions and the lower floor loft faced a building directly across a street. The higher floor traded for $100,000 more, or $10,000 per window.
A major condo development trend has been restoring and converting classic pre-war buildings from rentals into condos with expansive, 3+ bedroom layouts. Recent examples include 737 Park, 680 Madison, 150 E. 72nd, 141 E. 88th, 11 E. 68th, 130 W. 12th, part of Greenwich Lane, 212 W. 18th, 607 Hudson and seemingly countless others.
In the past three years, only 16% of apartments sold on the Upper East and West Sides of Manhattan had private outdoor space. Of those, only 8% were above the 18th floor, commonly thought of as the start of “open skyline views”.