Forum Archive

We are interested in another unit on our building – very nice loft in an elevator building in Park Slope. It’s 1200 square feet, but there’s only one bedroom. There’s an obvious spot for a 2nd bedroom (the owner knocked it out when he moved it) and another less natural spot for a third bedroom. Since we now live in a 1000 square foot true two-bedroom, we’d definitely need to add in the 3rd bedroom to make it worthwhile for us.

Here’s my question: the sale would be private, so it’s hard to gauge what it would get if it were put on the market. Do we compare it to one-bedrooms on the market? 2-bedrooms? 3-bedrooms? The owner is asking $755K, which is great for a 3-bedroom but pretty rich for a 1-bedroom. If he does put it on the market, I believe he is planning to market it as a 2 or 2+ bedroom, even though it is technically neither.

Just wondering what people think of that price and the marketing of larger apartments as 2- and 3-bedrooms even when they are not.

Thanks!