The Nest

NestApple's Real Estate Blog

Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.

Doorman building: expense or necessity?

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New York City Buildings are iconic; they range of ultra luxurious to rat nests and everything in between.

When looking to buy or rent there are several amenities and requirements that should be analyzed. Budget and personal preferences are going to determine how many boxes you check when it comes to building amenities.

When buying or renting a place in New York City, prospective buyers and tenants can decide whether or not they want to live in a building which has a doorman. Having a doorman comes with subcategories as well: full time doorman, part time doorman, virtual doorman and a combination of the above.

Your broker at NestApple will help you decide what choice is better for you by going through some of the pros and cons of having a doorman in your building.

Pros

One of the more obvious pros of living in a doorman building is of course safety. Doormen are tasked with filtering the traffic of visitors and goods going in and out of the building. Visitors cannot enter if not announced and will have to call up to enter the building. For instance, doormen will call up if someone is here to deliver food and will authorize that person to go through the lobby provided the resident confirms he or she is expecting a delivery.

The same can be applied to packages. having a doorman to receive packages means no need to worry about being home when that delivery you’ve been longing for finally arrives. The doorman will take care of everything and simply store the package until you are back from your weekend away.

Your doorman will also be a permanent helping hand at the entrance of the building. Need a hand with those heavy groceries, need someone to bring your luggage up and down before a big trip? He’s your man.

The doorman is moreover responsible for the overall cleanness and order of the lobby. Hailing taxis is an old school doorman task.

Cons

Like everything is life comfort and efficiency come at a cost. From a strictly financial standpoint, buildings with doormen are generally more expensive.

The difference in monthly rent between doorman buildings and non-doorman buildings has remained fairly constant at $1000/month over the past 10 years.

Indeed, according to the WSJ, the average price per square foot is 65% higher in buildings with doormen than those with no doorman.

Moreover, large holiday tips are somewhat expected and are certainly something to consider.

Some believe that having a doorman is intrusive. Indeed, they believe that having someone know their schedule and what visitors they have is not something that is worth all the advantages of having a doorman.

Ultimately the decision is yours: would you like the security of having someone opening doors for your, monitoring building traffic and receiving your dry cleaning or would you prefer to save those fees and upgrade square footage? Thankfully you live in the city with endless possibilities.

Give our licensed specialist at NestApple a call to save on broker fees!



Georges Benoliel Founder of NestApple - NestApple NYC cashback rebate

Georges Benoliel

Georges has been working in Wall Street for the last 16 years trading derivatives with hedge funds. He has been an active real estate investor for over a decade. Georges graduated from HEC Business School in Paris and holds a master in Finance from ESADE Barcelona.