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

Asked by Michael, Center City West, Philadelphia, PA Mon May 11, 2009

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Sheri Curci’s answer
Sheri Curci, Agent, Newtown, PA
Fri Aug 31, 2012
Hello Mike,

The Higher the floor.... the Better the View. On a Clear Day.... is the best time to tour some Condos and you get the Big Picture.

All the Best + Enjoy the Holiday.

Use the attached web reference for REAL time homes that are available

John + Sheri RE/MAX Properties 215-757-2889
0 votes
Bruce Lang, Agent, Philadelphia, PA
Tue Feb 15, 2011
In Philadelphia it varies a lot. Sometimes 5 to 10k works but if there is a building being cleared or other visual clutter it could be 50k or more. Also sometimes units, windows, terraces and finishes change. Make sure you know all thevdeatils
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Chris & Step…, Agent, Philadelphia, PA
Mon May 11, 2009
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.
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