Narrow Townhouses: Undervalued in NYC?

From New York Magazine: "Jed Garfield, whose firm exclusively sells brownstones and townhouses, says he has 'never had anyone say to me, "I want a smaller house." People almost always end up there by default.' That may explain why, according to an analysis by appraiser Jonathan Miller, narrower houses are rapidly losing market share. Five years ago, houses sixteen feet wide or less accounted for 25.9 percent of townhouse sales; in 2010 (as of December 15), they constituted just 16.2 percent.  'The challenges are, really, 100 percent a mental thing,' says Garfield. House-hunters expect to feel squeezed in narrow buildings, but 'quite frankly, narrower townhouses tend to be better laid out,' he says.  Skeptics who negate on size alone may be overlooking a good buy. 'These are the houses that are affordable,' says Corcoran’s Anne Snee. In 2010, the average price per square foot for sixteen-footers and less was $1,013; seventeen-to-nineteen-footers, $1,105; 20-to-24-footers, $1,375; and 25-plus-footers, $1,997."  Full article here.