BPC Luxury Building Common Charges

Posted on the 30 West Thread $2200 in monthlies for a 1 bedroom??!! Wow, if this is truly a luxury building and it is a very good size, in a top rental building it might get $4500. So, wow! Downtownster 38 minutes ago ignore this person report abuse Hi there - your best bet really is to ask the seller's agent (which it looks like you already have) or ask a different seller's agent. Our... [more]

Posted on the 30 West Thread $2200 in monthlies for a 1 bedroom??!! Wow, if this is truly a luxury building and it is a very good size, in a top rental building it might get $4500. So, wow! Downtownster 38 minutes ago ignore this person report abuse Hi there - your best bet really is to ask the seller's agent (which it looks like you already have) or ask a different seller's agent. Our understanding is that the common charges are sponsor-abated for 5 years, so they tick back in at 20% per year. We were told that the building is on Year 2 of this abatement, so current common charges are at 40% of the ultimate total. Another way to look at this is that since 30 West St is in BPC, the total monthly carrying cost of any apartment should be around $2.50 - $2.75 per sq ft. So for say, a "D" line one bedroom (which is 875 sq ft), the current monthlies are around $1700 but should (assuming $2.50 per sq ft) actually be around $2200, for an increase of $500 (not factoring in of course, underlying yearly increases in the maintenance not related to the abatement). Sounds about right to us for the area - let us know if you find out more. http://www.downtownyblog.com [less]