In this week’s issue of New York Magazine, Jhoanna Robledo goes all out on the topic of outdoor space in city residences in “1/100th of an Acre of Heaven“. She asked me how our appraisal firm approaches the valuation of outdoor space.

The outcome of our conversation was this cool tape measure-like graphic:

[click to expand to – huge – widen your browser window.]

Page layout:
[click to expand]

And it brings to mind one of the most read posts on Matrix: Understanding The Value of Manhattan Apartment Outdoor Space where I break down the background and logic for the valuation of outdoor space. I point real estate agents to this post nearly every day.

Hypothetical examples of our valuation logic is displayed in these 2 crude sketches [pdf] with hypothetical scenarios I submitted for this NY Mag piece that weren’t used (hey, I never took art in school, EVER). It’s part of my attempt to compartmentalize amenities of properties to derive a reasonable value relationship with the basic property.

First hypothetical scenario sketch – i.e. a Brownstone garden apartment.

Second hypothetical scenario sketch – i.e. a studio apartment with an oversized yard.


1/100th of an Acre of Heaven [New York Magazine] Terra Logic: Understanding The Value of Manhattan Apartment Outdoor Space [Matrix]


  1. Linkage: Valuing Yards by Square Foot; ‘I Hate Brooklyn’ Revisited – September 7, 2012 at 7:00 am

    […] What that patch of outdoors is worth [Matrix] · Lawsuit revived against Goldman Sachs over mortgage debt [Crain's] · Does […]

  2. Don McCanlies September 10, 2012 at 4:56 pm

    Wow, I just can’t imagine that small of space goes for so much. But if you can make it work, all the better! Great post for those in your area.

  3. […] the next 250 sq ft, and $0.10-$0.25 after that.”  Jonathan elaborates on the formula in a post on his blog, including a sketch of how to apply to a brownstone ground-floor apartment with garden. […]

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