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why maintenance fee is different in each unit?

Started by Lola2
over 16 years ago
Posts: 3
Member since: Mar 2009
Discussion about Intl. Tailoring Company Building at 111 Fourth Avenue in East Village
Does anybody know why maintenance fee is different in each unit?
Response by NWT
over 16 years ago
Posts: 6643
Member since: Sep 2008

The co-op corporation that owns the building has x shares. Shares are allocated to each apartment based on its size, exposure, view, floor, etc. That allocation sometimes isn't quite what it should be.

Maintenance is divvied up amongst the apartment owners as #x per share owned.

In this building, you'd expect 10C to pay more maintenance than 5C. 30% more seems out of whack, but maybe the view from 10C is better than from 5C, or was when the building went co-op and shares were allocated.

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Response by Lola2
over 16 years ago
Posts: 3
Member since: Mar 2009

I see. Thanks so much for the info!

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