Wow! I'm sorry and suprised that you have encountered this! As Frank already said it's a serious offence to quote the wrong measurements and the brokerages I worked for did not allow you to list the measurements, unless they were listed under the builiding's architectural plans. How do you figure out that they are smaller? If this concerns greatly you, there are fairly accurate digital laser meauring devices on the market these days so that you can confirm your misgivings. You could also report the discrepancies to Rebny and the the Department of State (and Manar if the agents are members)
I'm not aware of an interior /exterior measurement system but I would be glad to recommend you to a couple of reputable architects who would be able to professionally address your concerns.
You might also profit from speaking to an attorney
I would also be glad to be your broker, if you do not have one!
16X12=192 s.f....10% more!
When in comes to co-ops it's even trickier, because the offering plan, which is basically the "bible" for all buildings never lists square footage, just shares in the corporation. So it is always a guess. You will almost always see a disclaimer saying square footage is approximate. And when guessing is allowed, there is a tendency to round up, not down, can get a little out of control and become deceiving.
If you are serious about purchasing, having a buyer's agent organize your search and negotiate on your behalf is very helpful. I have negotiated down from developer's asking prices, even when it was assumed it could not be done. And because developers are notorious for giving an overly optimistic completion date, I was able on one occasion to use the right of recision clause to negotiate a lower price many months after the contract was signed. This basically means there was a clause that if the project was finished by a certain date, the buyer can walk and get their money back. I used it to get them money off for the delays. So an experienced agent representing you, even on new developments can be very useful. And of course the seller always pays the commission, so you can only win.
One of NYCs larger agencies has had several lawsuits over this, still they keep doing it. I don't know why.
If you catch an agent lying to you, you should decide whether you can trust them on anything else they say. Sure I have made mistakes, everyone does, but blatant overstaing of Sq Ft is not a 'mistake'
If you want a free tape measure give me a call!! LOL
It is illegal to state the wrong size of the squae footage. If they don't know, they should put a comment, such as "square footage does not match tax records."
Agents spend hours searching for homes meeting the Buyer's criteria and assuring the buying process goes smoothly. We don't have time or resources to determine the method used for measuring on every home. It's not uncommon for an agent to send out listing information on over 800 homes a week.
Wanda Couch 678-614-5883 Keller Williams Realty Atlanta Partners
This fact is especially true in rentals where some people try to trick their customers, by making them think they are getting a fair price for the square footage, or just because they have no clue of a square footage therefore they do not know to assess the space.
The best way to go is to check the place, see if it fits your needs, and then see if you are confortable with the price you are paying for.
I know Upper East Side very well, and I just sold a 3 Br 3Ba there. If you want I will be very happy to help you in your search?
Feel free to contact me to do so.
Your question has pretty much been answered, everyone uses different methods to measure a unit. In Older buildings "Pre War" walls are much thicker, in new construction walls are thinner. Some developers or architects include stairwells and other empty, unlivable space while others are more honest with their measurements.
I'm curious Vasya, you just said that you saw between 30 and 40 condos in Manhattan. Are you working with several agents or just one? 40 Condos is too much, I'm not sure if that agent is just showing you everything that you arent looking for or if there is lack of motivation on your part. Have you put any offers on any of the units, with that many apartments I just can't see why you weren't able to zero in on a unit that you like. No apartment is ever perfect, not unless you do the remodeling your self. So why so much hesitation?
It often actually works the other way out here in Queens. You go to a closing for a frame 1 family house, and it turns out that it actually has a finished basement and is brick.Just that nobody bothered to notify anyone because of higher taxes and no permits.
And good for you with the tape measure!!!
One time I even pulled out a measuring tape which irritated sellers broker dramatically and he said that I am not allowed to take measurements. The place was listed as 720.Later when we finally got an access to architectural docs it was actually 665. Later I saw a listing for a neighboring apartment with identical floor plan listed at "approx. 800sq foot".
I am not venting my anger in frustration of prices as one of comments suggested. I am willing to pay a price as long as I see everything upfront not just at signing.