After a seemingly endless winter, the first hints of spring have teased us with a day or two of temperatures over 60 degrees. That fleeting glimpse of warmth sent many New Yorkers flying out of doors to enjoy the sunshine. For my part, I sipped my morning coffee at home last week and stared wistfully out the window at a neighbor’s balcony.
In our concrete jungle, there is a hefty dollar value attached to having your own garden oasis — even the smallest of shrubberies carries a price tag. And with so many residents suffering from a vitamin D deficiency these days, brokers are promoting listings that can claim specks of green, even if they’re barely large enough to hold a bonsai.
Yet there are some listings for which the warmer weather was made.
Downtown, the average price of a luxury condominium with a terrace is $8.3 million; that compares with just $6 million for those without terraces, according to Vanderbilt Appraisal. And developers are doing whatever they can to take advantage of that pricing edge.