Coop Maintenance in New York City

#shorts How do you compare maintenance costs for Coop apartments in NYC? I use monthly maintenance per square foot, and here's how you calculate it. My range for maintenance is $1.50/SF/Month on the low end and $3.00/SF/Month on the high end, so for our theoretical 1,000 SF 2BD 2BA apartment, the midrange of this would be $2.25/SF/Month or $2,250/month. Keep in mind that maintenance in NYC, unlike CCs or HOAs elsewhere, includes the taxes. For a typical 1,000 SF apartment, that $2,250/month would equate to $27,000 per year in costs. The value range for a 1,000 SF Coop in Manhattan is ~$800,000--$1,200,000 (assuming $800-$1200 price per square foot), so that is about 2.7% per year in combined upkeep and taxes. This compares to New York State at 1.72% taxes and roughly 1% needed to keep up a property. Let me know what questions you have in the comments and thanks for watching.

Видео Coop Maintenance in New York City канала Philip Wells Real Estate