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Square Feet: Measuring Up
You know the feeling: An apartment listed as 1,000 square feet turns out to be something closer to half that when you’re actually standing in it. It’s true that in New York City, apartment size exists on a different plane from the rest of America, even in the most luxurious of living spaces. But in a city where we often pay by the square foot, size matters. Co-ops are sold according to shares rather than size, but these measurements are important in condominium units since offers legally must reflect the actual size of each unit. How can you be sure you’re getting your money’s worth?

The Real Estate Board of New York (REBNY) has suggested the following standards when calculating square feet:

The latter measurement is often used to determine the size of the building. The former is the focus for, according to the Board, “all those concerned with sales, rentals and financing . . . including brokers, salesmen and others…” who deal with the public.

The problem is, these standards are voluntary, and vary even between organizations. There are numerous reports of brokers asking appraisers to take liberties like measuring from exterior rather than interior walls, or adding common areas to their measurements. Some agents have even been considering “volume” or cubic footage to be a factor (the higher the ceilings, the more desirable the apartment). You can find endless discussion on the topic in the real estate community and among those in the market for a home. Real Estate blog True Gotham has even produced a four-part series on it.

The best idea seems to be caveat emptor. And measure it yourself. The tools available for room measurement range from the high-tech (laser and sonic devices) to the tried-and-true (tape measure). And the best question to ask may be this: Can you live comfortably in it?