Vpfrench, Home Buyer in Upper West Side, New...

what is the average cost of monthly maintenance for a one bedroom coop in the uper West side of nyc?

Asked by Vpfrench, Upper West Side, New York, NY Thu Dec 29, 2011

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William Hobbs’ answer
The last time I did a comprehensive study on the maintenance question (2010 Manhattan), I found that $1.75 - $1.80 per foot is the approximate average. This included no frills walk-ups and white glove full-service.

William Hobbs
0 votes Thank Flag Link Thu Mar 8, 2012
This questions has many variables but you can go by this. Walkup prewar would be about $400-800; Pre-War with Elevator would be about $1000 and Luxury building would be about $1800-$2300.
646 808 9494
0 votes Thank Flag Link Thu Mar 8, 2012
Well it depends on the bulding of course, but generally 2,000 or so a month. A good rule of thumb is the more stories then usually the more cost;Therefore, maintenance will be higher. I hope I helped you, I am an agent with Exit Realty Top Properties, you can contact me anytime.

Ciro Traino
fb/C Ciro Traino
0 votes Thank Flag Link Wed Mar 7, 2012
According to the Council of New York Cooperatives and Condominiums, median maintenance fees for co-ops on the West Side of Manhattan rose 59% from 2000 to 2009, a change indicative of Manhattan as a whole. These changes are directly related to the increased tax rates levied by New York City and their increased assessments of property values; most owners of luxury apartments in Manhattan have seen their maintenance fees increase on a yearly basis due to these factors. These days, maintenance fees for condos and co-ops in Manhattan can range from a couple hundred to thousands of dollars per month, and high maintenance fees often lower property value; apartments with low maintenance fees usually sell for more than comperable apartments with high maintenance fees.

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0 votes Thank Flag Link Sat Feb 25, 2012
Hi Vpfrench,

The easiest answer has already been given to you below. However if you have a price range in mind, and a certain style of building, either new construction, modern 80s, 70s, 60s, 50s, pre-war, etc., and amenities, you can begin to get an idea about what a reasonable maintenance price is for you and your budget. You should also keep in mind that maintenance always goes up, due to inflation, taxes, and other economic factors. The apartments that have lower maintenance tend to sell for higher prices per square foot, and the opposite is true for those apartments with higher monthly maintenance. Then you have to consider whether you want to pay less up front, have more money in your pocket, and pay more per month for your maintenance, or pay a higher sales price up front, and less monthly maintenance.

Let me also make you aware of something that you may not already know... if you have been or plan on looking at apartments, and you are doing your research and responding to listings you find on the Internet, New York Times, etc., you are in fact responding to ads that are placed by the Sellers' Brokers. The primary goal of a Seller's Broker/Agent is to sell the properties that they are representing, for as much money as possible. They have taken this role by way of a contract that they sign with the seller, to market and represent their properties. A Buyer's Agent is someone who will represent you, and only you, in order to help you save time and money, while narrowing your apartment search to find your dream apartment.

To learn more about the important differences between Sellers' and Buyers' Agents, you can find info at the DOS link, halfway down on my website's home page: http://www.manhattan-condos-for-sale.com/Home.New-York-Apart…

If you have any additional questions, you may feel free to contact me... I am happy to help.

Lindsey Newman
Senior Real Estate Sales Associate
0 votes Thank Flag Link Mon Jan 16, 2012
Vpfrench, This is difficult to answer as there are many factors involved such as location, floorplan, floor, age of building, amenities, condition, view and many more. (There are a few limited income NYC Government coops with maintenance as low as $430. - but then there are coops with maintenance of $3,500. month)
I would refer you to my buddy, real estate expert & appraiser Jonathan Miller- if anyone would know it would be him!
http://www.millersamuel.com/people/jonathanmiller/ http://twitter.com/jonathanmiller
0 votes Thank Flag Link Fri Dec 30, 2011
Maintenance fees do vary from building to building, and by exact location, size, amenities, assessments, underlying mortgage if applicable, etc.; therefore if asking about a specific unit you can either directly contact the listing agent; or any local agent/realty office can also help, they all have access to the same information; or work with an agent of your own; or if you know who management is contact them directly.
0 votes Thank Flag Link Thu Dec 29, 2011
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