Does the value add for a roof deck depend on which floor of the building you're on (i.e. will first floor units see less of an increase in?

Asked by Msg99, 11215 Wed Jul 13, 2011

value)? Our four story condo is considering building a roof deck. Property owners on the lower floors believe that the increase in their re-sale value will be less than the increase for the units on the top floor.

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6
Charles D'Al…, Agent, Brooklyn, NY
Fri Jul 15, 2011
It may just a little> The real value is to the existing owners,in as the use of the roof deck. Like alot of other improvements it will not give a whole lot of value to the units.
0 votes
Ron Thomas, Agent, Fresno, CA
Thu Jul 14, 2011
I'm sorry, but I just cannot see your point:
The Roof Deck would be there for all to enjoy, and you cannot see the Roof Deck from any unit.
It would seem that you are grasping at straws.
I'm sorry, I cannot agree with you.

Good luck and may God bless
0 votes
Michael Napo…, Agent, Brooklyn, NY
Thu Jul 14, 2011
Is there an elevator? A roofdeck is great if it is within the condo's budget and it is legal and you consult with an attorney and an engineer. As far as re-sale value, it would really depend on the cost of the project to see its worth.

Warm Regards
Michael Napolitano
Associate Broker
Remax Metro
718-439-1110 ext 28
718-612-3088
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Thu Jul 14, 2011
Dear Msg99:

Theoretically the owners on the lower floors may have a point. Is there an elevator in the building? If not their point may be even stronger. Even so, in the end there are so many things that factor into the value of a property the difference of value added from floor to floor would be negligible. The fact that there is a roof top deck still would add some value no matter what.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Jul 14, 2011
Not sure a roof deck will increase value, unless the view is exceptional...
0 votes
Jack Menashe, Agent, Brooklyn, NY
Thu Jul 14, 2011
Probably true. May not increase value as much as making the property more desirable.
0 votes
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