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Student Evaluations

Brokers visit three big-city dorm rooms and size up their value on the condo market.

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By S.Jhoanna Robledo
Published Oct 22, 2006

(Photo: Jeremy Liebman)

New York University

Location: Union Square West and 16th Street.

The accommodations: A 650-square-foot one-bedroom shared by four students.

What the broker says: “It’s a full-service building with a laundry room … and [it’s got] a really big living room. You could put up a pressurized wall and make it a two-bedroom,” says Matteo Prandoni of Mark David & Company. “[But] the finishes are old. I have clients that would say ‘no’ just because of the floor.”

What the student pays: $1,310 per month (totaling $11,790 from mid-August through mid-May) per student, including utilities (central air!), toilet paper, and garbage bags.

Open-market value: $650,000 (or $3,200 per month as a rental). “What makes it valuable is its location,” explains Prandoni. “You’re basically connected to everything.”