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You usually can\u2019t get everything you want on your wish list when you buy New York City real estate, even when you\u2019re buying a luxury property. But as a result of NYC\u2019s longer and hotter summers and the increasing availability of apartments cooled by quieter, electric central AC,<\/a> buyers are unwilling to compromise on comfort.<\/p>\n Central air\u2014the term applies to a few types of systems<\/a>\u2014is now considered a must-have in the NYC luxury market. A growing awareness of the importance of indoor air quality and a desire to control temperature settings at the touch of button are also fueling this demand.<\/p>\n Many buyers will not consider listings without central air, brokers told Brick.<\/p>\n \u201cDon\u2019t try to sell a place above $5 million without it,\u201d said Lisa K. Lippman, a broker at Brown Harris Stevens.<\/a> Buyers hunting in the $2 million-$3 million-plus range also lean toward some form of central air, like wall-mounted mini-split systems.<\/a><\/p>\n Lippman said that central air substantially boosts a property’s value, making it worthwhile for anyone selling a property that lacks central air to explore whether installation is feasible. Sellers don\u2019t need to do the actual installation but should confirm it is permitted with the board or management company and get a few estimates from AC installation companies, she said.<\/p>\n Case in point: She is selling a 2,400-square-foot apartment on Central Park West for $3.5 million and the cost to install central AC would run $150,000 to $200,000.<\/p>\n In the recent past, buyers who wanted all the \u201cbells and whistles\u201d\u2014like an in-unit washer\/dryer, garbage disposal, and central air\u2014had to look at new development, where the per-square-foot cost is higher and the square footage is lower. Older co-ops offered more space and lower monthlies, but you had to do your laundry in the basement because they had few amenities. When prewars added central AC, it was often a noisy, gas-fired, building-wide system.<\/a><\/p>\n But co-op buildings have been adjusting in order to compete with condos. They are allowing owners to install their own ducted electric heat pumps,<\/a> which are quieter, more environmentally friendly, and have mechanicals that take up less space. (And don\u2019t be fooled by the name\u2014these provide heating and cooling.) Plus heat pumps can be part of a building’s Local Law 97 electrification strategy.<\/a><\/p>\n Instead of requiring valuable roof or rear yard space\u2014the outside component for modern systems can be hung on the side of a building.<\/p>\n \u201cIn my career of 29 years, there has been more progress on central air than anything else,\u201d Lippman said. \u201cWhen I first went into real estate, people accepted that even nice places had window units. In the last five years, it\u2019s been \u2018central air or bust,\u2019\u201d she said.<\/p>\n Vickey Barron, a broker at Compass,<\/a> said at a certain price point, NYC buyers expect amenities, especially if they\u2019re coming from another state where $1.5 million gets you a house with multiple bedrooms.<\/p>\n If co-op buildings \u201ccan figure out how to allow people in-unit washer\/dryers and not have them schlep to the basement, they can figure out how to let them control the temperature year around,\u201d Barron said.<\/p>\n Plus, global warming is leading to more extreme temperatures, including longer, hotter NYC summers, making central air a matter of more than just comfort. \u201cMaybe in the future we\u2019ll need AC in February,\u201d Barron mused.<\/p>\n Some installations are tricky, like when an owner lives in a historic building where the fa\u00e7ade cannot be altered. In that case, it\u2019s hard to find space to house the external component for a heat pump.<\/p>\n Barron previously represented a seller at 51 Fifth Ave. in Manhattan, a 1929 co-op building. The seller was allowed to put in central AC, \u201cthe only one in the building,\u201d Barron said. \u201cA huge win,\u201d she added.<\/p>\n Central air likely adds about 5 percent to the value of the property, said Jonathan Miller, president and CEO of appraisal firm Miller Samuel.<\/a> It also makes a property more marketable, translating into a faster sale, he said.<\/p>\n \u201cIt really enhances the quality of life relative to a window unit,\u201d Miller said. The noise, seasonal installation and removal, plus the loss of light make window units much less desirable, he added.<\/p>\n Less expensive mini split units are a compromise\u2014sometimes it\u2019s not possible to install a ducted system\u2014but still preferred over unattractive window units, Miller said.<\/p>\n Barron is a big fan of using mini splits for very large properties. \u201cThis way you only cool off the rooms you are using,\u201d she said. She also finds the units quieter and easier to keep clean than a ducted system.<\/p>\n With central air becoming more ubiquitous, if you\u2019re a buyer, you also need to be aware of where condenser units for neighboring units are positioned outdoors relative to your future bedroom. For example, are they hung on the wall close to your window or on a roof level with your unit?<\/p>\n It can be easy to overlook if you\u2019re apartment hunting in the cooler months. Barron pointed out they\u2019re silent in February. \u201cBut come July you will hear them,\u201d she said.<\/p>\n Has central air become the number one amenity in NYC? Only temporarily, Miller said.<\/p>\n \u201cWhen you have this conversation in the middle of July in a heat wave with Canadian wildfire smoke drifting over the area, yes, it is the number one amenity. But in other parts of the year, private outdoor space is still the number one amenity,\u201d he said.<\/p>\n It comes down to convenience and wellness, said Kayla Lee, a broker at SERHANT. <\/a>In addition to square footage and views, \u201cbuyers want an effortless lifestyle.\u201d That means using their phone to control the temperature instantly\u2014especially if they enjoy this amenity at their current property.<\/p>\n Sellers are adding central air when they renovate to respond to this demand.<\/p>\n \u201cIf you don\u2019t have it, you\u2019re not competitive with the market,\u201d Lee said. For some buyers, \u201ca window unit or PTAC unit will kill a deal.\u201d<\/p>\nCo-ops get on board<\/h2>\n
A faster deal<\/h2>\n
A word of caution<\/h2>\n
The leading amenity?<\/h2>\n
Questions to ask as a buyer<\/h2>\n