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1 bldg, same size apts, diff. maintenance - why?

Started by starla
over 15 years ago
Posts: 1
Member since: Aug 2009
Discussion about
I'm looking at a big postwar coop. Why do apartments in the same line (same size) have different maintenance charges? Thanks!
Response by maly
over 15 years ago
Posts: 1377
Member since: Jan 2009

Higher-floor apartments may have more shares.

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Response by ph41
over 15 years ago
Posts: 3390
Member since: Feb 2008

aly has it right - if you look at the prospectus, you'll probably see that the number of shares for the same line increases by floor.

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Response by ph41
over 15 years ago
Posts: 3390
Member since: Feb 2008

sorry " Maly" has it right.

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Response by gcondo
over 15 years ago
Posts: 1111
Member since: Feb 2009

<-- wonders why property taxes do not work like this

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Response by ph41
over 15 years ago
Posts: 3390
Member since: Feb 2008

gcondo - well, they sort of do, in a coop, as the number of shares go up, the share of the building's property taxes go up. In a condo, property taxes based on price, which, usually, also goes up by floor.

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Response by gcondo
over 15 years ago
Posts: 1111
Member since: Feb 2009

In a coop, yes. In a condo, the city apportions tax, usually, by PCI - which does not take into account floor number.

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Response by Riversider
over 15 years ago
Posts: 13572
Member since: Apr 2009

In a condo the taxes may and quite often does take into account floor and view.

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Response by NWT
over 15 years ago
Posts: 6643
Member since: Sep 2008

E.g., http://streeteasy.com/nyc/building/infinity-flats

Eight full-floor units. #2 and #9 have highest PCI due to terrace and roof deck. The PCI for #3-#8 increments a bit per floor.

Then there's the Apthorp, where PCI is purely a function of size. That's the more usual case.

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Response by gcondo
over 15 years ago
Posts: 1111
Member since: Feb 2009

my PCI is the same as every unit in my line, so my taxes are as well.

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