Home Buying in New York>Question Details

Kristin Arme…, Real Estate Pro in New York, NY

How is price considered and determined when there is a combination listing of two (side by side) apartments where buyer would combine?

Asked by Kristin Armenia, New York, NY Wed Oct 9, 2013

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I agree with Adina, I just sold one semi-combined apartment and I have another combination currently as my exclusive. Its very complicated and there are too many things too consider, its hard to answer without knowing the specifics.
Best regards,
Masha

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Masha Sales
Citi Habitats
37 Third Avenue NYC NY 10003
Mobile 917.658.3667 | Direct 646.398.6108 | EFax 917.262.7375
masha@citihabitats.com
1 vote Thank Flag Link Wed Oct 9, 2013
I appreciate your feedback. Thank you very much.
0 votes Thank Flag Link Wed Oct 9, 2013
In addition, you should reach out to an appraiser and to the management company of the units. The simple answer is the appraiser would take the "As Completed" value of the square footage, property characteristics, and location of the newly combined apartment and comp against similar properties in the building or the area. There are a few more nuances to it but that's the "quick and dirty" of it. I recently did a loan for two combined units in Scarsdale and again, without too many specifics, that is how the deal was done. Masha is correct in that with the complete deal picture, I could give a more specific answer.

If I can be of any further assistance, please feel free to reach out.

Shawn Carson
Senior Loan Officer
Quontic Bank
(718) 215-4069 (office)
scarson@quonticbank.com (email)
0 votes Thank Flag Link Wed Oct 9, 2013
This is a question you should ask your broker. It doesn't belong here.
0 votes Thank Flag Link Wed Oct 9, 2013
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