Our Own Jennifer Breu on OpenHouseNYC
how much should I discount a ground floor apartment? it's on a quiet street, but I've heard they take forever to sell.
There is no specific percentage as each property is unique. That said, the first floor often has outdoor space which can offset the adjustment for just being first floor. It depends on the quality of the outdoor space in that instance. You must also consider that some first floor apartments actually feel like 2nd floor because of the height of ceilings in the building's lobby. Many factors to consider.
My question is: do you see the market for 5th Ave apartments in Lennox Hill in the $2 - $2.5MM range softening further. Thanks for your insight.
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