If a triple family multifamily is converted to condominium, how is the square footage of each condominium determined? How does it relate to the living area square footage recorded by the city for the multifamily? For example, if the city has a multifamily measuring 3000 square feet of living space, will the total square footage of the three condominiums also equal 3000, or is a different means of measurement used. Thanks!
During the convertion process each unit will need to be measured and stamped. The total building may be 3,000 square feet, but the individual units will of course be smaller (plus there are common spaces).
I also wouldn’t totally rely on the city assessor’s records for square footage.
@Dan K. The city oftentimes has two figures for buildings, gross square footage, and also square footage of living space. I wanted to know whether the square footage of living space figure is accurate. I would think that it excludes the common areas.
@Leah M. , I wouldn't really rely on the assessor's numbers.
That being said, the common areas are most likely in the living space figure. What's not in the living space calculation and instead in gross area are parts of the building that aren't considered living space by the assessor's regulations. Common examples are sloped ceilings that aren't high enough, basement areas that, open porches, etc.
Bottom line, if you're going to convert a property, you'll need to get floor plans.
If you have more specific questions I'm happy to help you out.