How much does a roofdeck add to the value of a walkup condo in Back Bay?

Asked by Backbay?, Back Bay, Boston, MA Mon Aug 6, 2012

If one doesn't have roof rights/easement, how have condo associations typically granted them, what kind of compensation, is it price per square foot?

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7
Sarah Goulart…, Agent, Plymouth, MA
Mon Aug 6, 2012
I would agree with CH on this one..I spend a lot of time in that area think the added value of outdoor space (bonus points if it has a view!) will make a difference, although I am not familiar with exact compensation. I know the condo I spend most of my time at even rents for more partly due to the gorgeous roof top deck with views.

I would consult a local real estate agent. As C.H. said, parking and outdoor space do normally increase value.
1 vote
CH Naamad, Agent, Boston, MA
Mon Aug 6, 2012
Go for it please.
Private roof decks do add value to a Back Bay property. The two most desirable "outside" features in the Back Bay and the South End these days are parking and some sort of outdoor space, a private space is even better.
You can not lose here. Please go for it.
1 vote
Backbay?, , Back Bay, Boston, MA
Thu Mar 13, 2014
Does anyone have a ballpark figure as to how much people typically offer to compensate the association for roof rights? How is it determined?
0 votes
Territory.c…, Agent, MA,
Tue Aug 7, 2012
Yes, the roof deck will add a ton of value but first you need to find out if the association will sell you the roof rights. If you are unsure whether you own the roof rights simply have your real estate attorney review the condo documents.

Territory.com
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0 votes
Louis Wolfs…, Agent, Needham, MA
Mon Aug 6, 2012
It would either have to be spelled out in the condo documents or voted on by the association and the documents amended. Please review the condo documents and have a good real estate attorney to advise you. As previously state it will add value, the value will be based on the building itself, the location and the view added.

Good luck.

Louis.
0 votes
Mario Pavli, Agent, Boston, MA
Mon Aug 6, 2012
A roof deck def. helps the value to the condo increase a good amount. As Sarah mentioned below that if this rood deck has a view of any sort it's another increase $$ on the condo.
0 votes
James Furlong, Agent, Brookline, MA
Mon Aug 6, 2012
Roof rights are usually granted when condos are first developed. If the access to the roof is only through your unit there is little value to the association. If the roof can be accessed via a common area, then it is a different story because the deck could then be common deck which would add some value to all the units in the building.
0 votes
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