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A Getaway Apartment, in Your Own Building

…“I tend to observe this pattern when, like now, markets are ticking upward,” said Jonathan J. Miller, the president of the real estate appraisal firm Miller Samuel….

…In some prewar buildings where maids’ rooms were laid out on a separate floor, Mr. Miller said, “people buy them and turn them into a study or additional storage space or me-time rooms.”…

…“Let’s say you have a 1,500-square-foot apartment on the seventh floor and buy a 500-square-foot studio on the third floor,” Mr. Miller said. “The aggregate total of noncontiguous studio plus original apartment would be a lot less costly than buying a 2,000-square-foot unit.”…

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#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
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