< All Press

A Getaway Apartment, in Your Own Building

…“I tend to observe this pattern when, like now, markets are ticking upward,” said Jonathan J. Miller, the president of the real estate appraisal firm Miller Samuel….

…In some prewar buildings where maids’ rooms were laid out on a separate floor, Mr. Miller said, “people buy them and turn them into a study or additional storage space or me-time rooms.”…

…“Let’s say you have a 1,500-square-foot apartment on the seventh floor and buy a 500-square-foot studio on the third floor,” Mr. Miller said. “The aggregate total of noncontiguous studio plus original apartment would be a lot less costly than buying a 2,000-square-foot unit.”…

Get Weekly Insights and Research

Housing Notes by Jonathan Miller

Receive Jonathan Miller's 'Housing Notes' and get regular market insights, the market report series for Douglas Elliman Real Estate as well as interviews, columns, blog posts and other content.

Follow Jonathan on Twitter

#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
NYC CT Hamptons DC Miami LA Aspen
millersamuel.com/housing-notes
Joined October 2007