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Literally The Narrowest Housing Insight Ever Provided (Hint: Valuing Outdoor Space)

In this week’s issue of New York Magazine, Jhoanna Robledo goes all out on the topic of outdoor space in city residences in “1/100th of an Acre of Heaven [1]“. She asked me how our appraisal firm [2] approaches the valuation of outdoor space.

The outcome of our conversation was this cool tape measure-like graphic:

[3]
[click to expand to – huge – widen your browser window.]

Page layout:
[4]
[click to expand]

And it brings to mind one of the most read posts on Matrix: Understanding The Value of Manhattan Apartment Outdoor Space [5] where I break down the background and logic for the valuation of outdoor space. I point real estate agents to this post nearly every day.

Hypothetical examples of our valuation logic is displayed in these 2 crude sketches [pdf] [6] with hypothetical scenarios I submitted for this NY Mag piece that weren’t used (hey, I never took art in school, EVER). It’s part of my attempt to compartmentalize amenities of properties to derive a reasonable value relationship with the basic property.

First hypothetical scenario sketch – i.e. a Brownstone garden apartment.
[7]

Second hypothetical scenario sketch – i.e. a studio apartment with an oversized yard.
[8]



1/100th of an Acre of Heaven [New York Magazine [1]]
Terra Logic: Understanding The Value of Manhattan Apartment Outdoor Space [Matrix [5]]