Apartment buildings, also referred to as multi-family buildings, contain five or more residential units. Its common for mixed-use buildings primarily comprised of residential apartment units to be grouped into the multi-family asset class. New York City is an urban market area comprised of many apartment buildings that vary in age, size and quality. At NYC Real Estate Appraisals, we have over 20 years of extensive multi-family Appraisal Experience throughout Manhattan, the Bronx, Brooklyn, Queens and New Jersey. We maintain the most accurate and up-to-date database of multi-family sales, rentals and operating expenses in New York City, which in combination with our appraisal expertise, enables us to produce the most accurate multi-family valuations the industry has to offer.
Many of New York City's apartment buildings are categorized
by the Department of Finance into the following building classifications:
C1 - Over Six Families Without Stores C2 - Five To Six Families C4 - Old Law Tenement C5 - Converted Dwellings Or Rooming House C7 - Walk-Up Apt. Over Six Families With Stores D1 - Elevator Apt; Semi-Fireproof Without Stores D2 - Elevator Apt; Artists In Residence D3 - Elevator Apt; Fireproof Without Stores D5 - Elevator Apt; Converted D6 - Elevator Apt; Fireproof With Stores D7 - Elevator Apt; Semi-Fireproof With Stores D8 - Elevator Apt; Luxury Type D9 - Elevator Apt; Miscellaneous O8 - Office With Apartments Only (No Comm)