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Marcel DeWinter, a Manhattan architect, said that when apartments are combined -- or when a portion of an existing apartment is made a part of an adjoining apartment -- and the total number of rooms in the building remains the same, it is usually not necessary to change the building's certificate of occupancy.
For this paper, a sensitivity analysis was performed to determine the most significant parameters for buildings in hot-humid climates by considering the design of an existing apartment building in Izmir, Turkey.
The developed method was tested and validated using experimental and computational performance analyses and the energy efficiency, operation and potential limitations of the developed application were also studied in existing apartment buildings.
When REITs come across reasonably lucrative opportunities to purchase existing apartment communities, their superior access to equity and debt will usually give them a leg-up relative to most private buyers, says veteran apartment broker Greg Laycock at Grubb & Ellis.
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Sellers of existing apartments, meanwhile, are also adjusting their behavior.
We've also been a fairly active seller of existing apartments because of high demand from institutional investors.
The report found that the average sales price of existing apartments rose 10percentt compared with a year ago, to $1.43 million, and fell 8percentt from the first quarter.
What You'll Find There are about 2,000 existing apartments, condos and brownstone town houses at Port Imperial — and the master plan calls for a total of 4,300.
The shortage of housing for bigger families has been exacerbated because many of the existing apartments with three or more bedrooms in the city's public housing stock currently have only one or two occupants.
For the first time, the report by the Corcoran Group distinguished sales of new condo and co-op apartments from sales of existing apartments, which is similar to the way real estate sales data is collected across the country.
Twinity, which has just raised €4.5m in new funding, has a virtual version of Berlin and Singapore (with London still in the pipeline): you buy existing apartments or rent shops but can't build yourself.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com