What's wrong with this building?

Maintenance usually runs between $1.00 - $2.00 a foot. Looking at the listings seems like it is coming in a little more then $2.00 a foot.

Devil is in the details, a quick look at an annual budget should tell you why its running high here. If I had to guess the coop has some debt probably taken on to fund capital improvements over the years and that is running up the expenses.

I wouldn't say "obscenely" high. I've seen a lot worse. But then again, I'm not all that familiar with this area. Certainly for GV or UES there are plenty of buildings with similar maintenance amounts.

In addition to capital projects, the higher maintenance can reflect expiration of tax abatements if the building converted in the last couple decades, it could have been a landlease building that the coop purchased the land for thus incurring debt, or who knows... These are questions the seller's should be able to answer or their broker in general terms. When buying I chit-chatted a lot to get preliminary info re building financials that of course I later scrutinized in great detail prior to signing a contract. But even without moving toward contract, there's nothing wrong while looking to inquire about any info available concerning maintenance.

I personally had the pleasure of living in this dump; not only is the maintenance high, they don't even vacuum or clean around the building!!! The hallways stink, the garbage room is often left full of trash, and they have a monthly list for pest control. The super his crew pretty much try to shake you down to fix any necessary building repairs, that is if he isn't out working his second job as a Jehovah's Witness. THE LOWDOWN: COOL NEIGHBORHOOD FOR ADULTS BUT THIS PLACE IS HELL, THE BUILDING IS FALLING APART, AND I WOULD NOT RECOMMEND "INVESTING" IN A UNIT IN THE BUILDING!!!

We have been shareholders in 66 Madison Ave. (now known as The Madison Parq) for 24+ years. I have no idea who Mark Watts is, or what his agenda is. The building staff, all delightful people, are constantly cleaning and vacuuming and shining the brass, etc. The hallways have recently been renovated, and the garbage room is cleaned of any garbage that didn't fit into the compactor, and the recycle pails emptied, twice every day. The pest control, which from my own experience is not even necessary, is done every 2 weeks. As for "shakedowns", while I have no idea exactly what happened to "MarkWatts", I have found the super to be very competent and accommodating, and have never been the object of a "shakedown". And while I have no knowledge of what the super does do on his off time, if he does something religiously oriented, what's the problem? Though admittedly old, the building is in excellent condition. Everything works! And lastly, as for "INVESTING", the market value of our apartment today is somewhere between 5 and 6 times what we paid for it.

any update on condo status, appreciate input for long term living