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Maintenance

Started by coolrelax52
almost 17 years ago
Posts: 11
Member since: Oct 2009
Discussion about
Why is maintenance at one building much more expensive than others, assuming all common facilities are the same? And why one is a lot more expensive than others when they are almost next to each other? http://www.streeteasy.com/nyc/sale/427737-coop-10-park-avenue-midtown-south-new-york http://www.streeteasy.com/nyc/sale/371005-coop-16-park-avenue-midtown-south-new-york
Response by villager
almost 17 years ago
Posts: 149
Member since: Apr 2009

Number of units in the buildings, size of the building, number of staff members, building's underlying mortgage, property taxes, etc...

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Response by NWT
almost 17 years ago
Posts: 6643
Member since: Sep 2008

Those two buildings are good examples of how size and staffing affect maintenance. One has ~64 apartments and the other has ~260. Both look as if they have the same mix of mostly one-bedrooms.

The 260-unit building needs a staff of maybe eight or nine guys: super, two porters/handymen, six or seven doormen.

The 60-unit building needs almost as many: super, porter, five or six doormen.

Given how large a chunk of the budget goes to staffing, you see the impact.

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Response by 30yrs_RE_20_in_REO
almost 17 years ago
Posts: 9913
Member since: Mar 2009

NWT has one out of two of the biggest reasons:

second is usually size of underlying mortgage.

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