Q: I own a 5-story, 19/92 building on West 84th between Columbus and Amsterdam. If I fully renovate the units, what would a unit be worth? I also want to know what layout and room count would make it most valuable.
A: If you are contemplating developing your property, a recommended first step is to do some online research. There are many Westside properties currently on the market that will give you an idea of what current pricing is for similar properties.
There are many more factors involved to answering your questions, and you would best be served by talking with an architect to ascertain the highest and best use of your property. You can then do a cost analysis based on the information you cull to decide what you ultimately want to do.
It would also be helpful to consult with a real estate professional to get insight as to what features today’s buyers are looking for.
