Residential Appraisal Services

The following descriptions outline the residential appraisal services offered by Brown Harris Stevens Appraisal and Consulting, LLC, in accordance with current Appraisal Standards Board regulations.

Self-Contained Appraisal Reports (formerly known as narrative reports)are extensively researched, detailed, and carefully argued opinions of thirty-to-forty pages. Each custom crafted report includes photographs, detailed descriptions of the neighborhood, the building and the apartment, or townhouse, and an estimate of market value, based on a thorough analysis of the most comparable sales available. If the valuation date is current, comparable listings are also analyzed.

The sales and listings are outlined on a table, supported by floor plans and narrative descriptions of layout, views, condition, maintenance charges, and the other relevant characteristics of each comparable used. Comparable sales and listings are selected based on their relevance to each individual assignment. For cooperatives and condominiums, there is a thorough review of the building's financial statement with follow-up questions to the managing agent.

Self-Contained Reports are essential for all types of litigation, and for estates where thorough review is anticipated. They are also especially appropriate for medical/profession offices and share allocations for all types of spaces. Fees for these reports vary depending on complexity of the assignment.

Summary Appraisal Reports – This format contains the same elements as the self-contained reports, but the observations and conclusions are condensed, or summarized in three or four pages. Summary reports are consistent with form appraisals, but with the distinct advantage of being easier to read and understand.

Discussion of the comparable sales and relevant listings is summarized, focusing on those properties that we believe to be most significant to supporting the value estimate. Sales and listings are outlined on a table; floor plans and photographs are included.

While Summary reports are not suitable for litigation, they are often sufficient for standard estate properties, if extensive review is not anticipated. Summary reports may be particularly well suited to estate properties when there is a surviving spouse. Fees for Summary Reports are typically less than those for Self-Contained Reports . We will be happy to advise you as to the most appropriate reports for your particular purpose.

We also offer Residential Consulting services to buyers and/or sellers who would like to obtain market and sales information from a disinterested party, prior to making a purchase or sale decision.

Our Market Studies are customized to the client's needs and interests. They include feasibility and marketability analyses for residential development projects and/or potential conversion from rental to cooperative/condominium ownership. Fees for customized consulting services vary with the complexity of the assignment. Inquiries regarding your special needs are welcomed.

For inquires regarding our services, or any other valuation issues, please call us. We look forward to being of service to you.

Alice Palmisano
Executive Director
Brown Harris Stevens Appraisal and Consulting, LLC
Telephone (212) 508-7331
Facsimile (212) 508-7611
E-mail apalmisano@bhsusa.com

Alice Palmisano

During her more than 20 years in the residential real estate market, Alice Palmisano has acquired a broad knowledge of the multitude of cooperatives, condominiums and townhouses that constitute the residential market. Before focusing on residential appraisal, she worked as a sales agent and broker, associated with Charles H. Greenthal Residential Sales and M.J. Raynes. In 1992, she joined the Douglas Elliman Appraisal and Consulting Division, specializing in the appraisal of Manhattan's high-end residential real estate. Ms. Palmisano has extensive experience in appraising for a wide range of purposes including pre- and post-nuptial agreements, matrimonial settlements, gift and estate tax filings, and all types of litigation relating to residential real estate. She became Associate Director of Brown Harris Steven Appraisal & Consulting, LLC in 1995 and, in 2003, she was promoted to Executive Director.

After graduating from the University of Maryland with degrees in Dance and Education, Ms. Palmisano began her career as a Theatre Program Specialist at the National Endowment for the Arts in Washington, DC. Upon moving to New York City in 1979, she became the first Director of Development at Theater for the New City and subsequently served on their Board of Directors. Three years in historic preservation at the Royal Oak Foundation and the Municipal Art Society directly preceded her entry into residential real estate in 1984.

Ms. Palmisano is a New York State Certified Residential Appraiser. She is also a Residential Associate Member of the Appraisal Institute, a member of the Real Estate Board of New York, the Association of Real Estate Women and the National Arts Club. She lives in Manhattan with her husband and two children with whom she is restoring an early nineteenth-century house in Columbia County.