A Luxury Manhattan Real Estate Broker Doing Real Estate Appraisals

A Luxury Manhattan Real Estate Broker Doing Real Estate Appraisals

A Luxury Manhattan Real Estate Broker Doing Real Estate Appraisals

I have been with Vanderbilt Appraisal, a top Manhattan property appraisal firm,  moonlighting as a Manhattan real estate appraiser since April of this year.  As an assistant licensed real estate appraiser, not only have I learned a ton about real estate residential and commercial appraisals, but it has sharpened my skills as a luxury Manhattan real estate broker.  These skills include: being able to comfortably rebut a low appraisal, checking for inconsistencies, checking for appropriate calculations and analysis, and being spot on in pricing your apartments in Manhattan for a quick, fair sale that will appraise–even for a complicated combined Manhattan apartment.

 

Working here has given me insight that most Manhattan real estate brokers do NOT have.  Here is a quick breakdown of some of the summary adjustments that we use in doing residential valuations of real estate for sale in Manhattan.

 

Time of Sale (if warranted)                               1/2% – 1% adjustment per month

Location                                                                   5%-10% of the comparable’s price

Maintenance                                                           75-100x  weighted difference maintenance per sq. ft.

Doorman vs. Intercom                                       5%-10% of comparable price

Floor Level                                                               1/2%- 1% per floor

View                                                                            5%- 10%  of comp price

Condition                                                                  5%- 10% of comp price or cost to renovate

Kitchen/ Bath Remodel                                      Cost to Renovate

Bath                                                                             $20,000-$40,000

Square Foot (Size)                                                 50% -60% of average price per sq. ft.

Small Terrace, Balcony, Fireplace                       $25,000 – $50,000 – $75,000 (depends on overall value range Ie. low or high end property)

Large Terrace, Garden, PH Terrace                     $10% – 30%- 50% of interior sq. ft.

 

Call a true expert in Manhattan realestate for an evaluation of your Manhattan apartment!

 

 

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Call a true expert in Manhattan realestate with an appraisal license for an evaluation of your Manhattan apartment!

Search apartment listings in Manhattan now!

Further Reading:  How to Buy an Apartment in Manhattan and Get the Best Interest Rate

The Importance of Finding the Best Representation When Buying Real Estate for Sale in Manhattan

What Home Buyers Should Consider When Deciding What Type of Manhattan Housing to Buy

Work with a trusted, Luxury Manhattan real estate broker specializing in Manhattan aptsNYC brownstones, and dog friendly apartments for rent & sale:

Soho LoftsTribeca Condos - WestVillage Apartments - Upper East Side NYC Apartments-Upper West Side Apartments Battery Park City Apartments -Chelsea ApartmentsGramercy Apts - Midtown East NYC - Midtown West NYC - Murray Hill in NYC - Lower East Side NYCEast Village Apartments

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