Jhoanna Robledo over at New York Magazine squeezes light from my proverbial turnip and the result is a very cool graphic on one way to value light in an apartment in her piece “What’s the Price of Light?” The topic of view have been recently explored and floor level.
Light is perhaps the most subjective of the view-floor level-light trio but this is the logic our firm has used for years (based on the “paired sales” theory that isn’t very practical in an appraiser’s daily life) but I feel it’s a good starting point, and of course it depends on the nuances of each situation.
Tags: New York Magazine, Light, Jhoanna Robledo
[…] another riffing opportunity is born In the reality-based Manhattan residential real estate world inhabited by The Miller, questions such as “how do you value the difference in light between different units, without considering differences based on view?” have at least the framework for an answer. It seems like Jhoanna Robledo at New York Magazine asked The Miller that question, and she turned his fact-based answer into her piece What’s the Price of Light?, with a great graphic. I will describe his answer as she reported (but, really, just scan her piece) but I first want to point out that what is too easily overlooked in the graphic is that this is a framework not a rule; The Miller makes this a little more explicit in his blog’s link to Robledo + Graphic, Valuing the Light in Your Condo or Co-op. […]