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Maintenance per sq ft

Started by Eastside
almost 16 years ago
Posts: 146
Member since: Aug 2009
Discussion about
I remember a few yrs back....$1 per sq foot was considered reasonable....now i think its up to $1.50....eventually will this reasonable number be over $2 per sq ft..ie as taxes, etc keep going up....looking at an apt with $1.75 per sq ft....and know the building mtce goes up a few % points each year....is this a bad number to start at ...ie $1.75?
Response by 300_mercer
almost 16 years ago
Posts: 10577
Member since: Feb 2007

assuming it has doorman, a little on the high side. The real issue for the doorman buildings is employment cost increase of 5-7% per year due to health care cost increase and unionized employees.

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Response by kylewest
almost 16 years ago
Posts: 4455
Member since: Aug 2007

It depends on building type and location and apartment. Plenty of apts have $2/sqft now and are selling fine. But they are also full service buildings in AAA areas. Other units, say on the UES, have very high maintenance but trade at lower prices as a result. In a vacuum it is hard to comment with any real meaningful response.

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