Overall this change in policy will lead to a wider buyer pool as pet owners who once would dismiss the building will now come and see if they want to purchase or rent a condominium at Dorchester Towers. This is an advantage to a current owner in the building who may be looking to rent or to sell in the future.
Another update for the building that there are plans to renovate the hallways and lobby area. The renovation is described as fairly extensive, there is a tentative plan for a children’s playroom and meeting room to be constructed within the current layout of the generously sized lobby sitting area. This is planned to occur sometime in late 2011 or early 2012 depending on a number of factors.
Updating the hallways is going to be a very aesthetically positive infrastructure for the building. As an active real estate agent, some buyers from time to time comment that a hallway renovation would be worthwhile. A children’s playroom and meeting room are definite advantages in a real estate perspective. These added amenities will provide an added value proposition for incoming buyers, as many of the more modern condominium buildings in the neighborhood have these types of amenities. The building will still not have any gym, fitness or health club area, but there are still a number of gyms in the near vicinity of the building including Reebok Sports Club, Equinox, New York Sports Club, just to name a few.
Overall, we think the renovation of the hallways and the lobby is going to be a major improvement for the building. Many post-war buildings that were built around the same time that Dorchester Towers NYC was in the mid 1960s are all being updated now to stay as competitive with some of the other more modern buildings in their respective neighborhoods. The renovation was paid for through a capital assessment that is planned to end in August of 2012.
The combination of opening up the building to allowing dogs and the upcoming renovation of the hallways and lobby we can say will increase the desirability of the building to incoming buyers and create a larger value proposition to anybody interested in a Dorchester Towers Condominium apartment.
Call us today (917)837-8869 if you would like to move into Dorchester Towers condo, or if you are an owner, we can provide you a fair market value estimate of your Dorchester condo unit.