How do you value higher vs lower level floors for apartments with the same sq footage?

Michael
Home Buyer
Center City West, Ph...

Answers (1)
The Somers
Agent
Philadelphia, PA
FIRST ANSWER

How do you value higher floor vs lower floors when buying a condo in the city? A round answer is 5,000-10,000 sometimes more per floor depending on the condo building as long as the view is not obstructed. That is just a rough estimate. If you are looking at an eficiency unit it may be 5,000 and if you are looking at a million dollar plus condo then it could be higher. For example, if you were looking at a place in Rittenhouse Sq. and there were 2 identical units on the same floor, 1 overlooking the park and the other overlooking the city westward then, the condo with the view of the park will have a much greater value. The value is set by the seller. They will, I assume, try to put a high value on the view since a park view it is a huge selling point. So, view and height will impact the value of the condo. It may not be a strict calculation but ca be determined by looking at comparable sales in the building if it is a multiple unit building.

Mon May 11 2009, 04:37

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