Median Maintenance Fee up 59% in manhatta

Maintenance up, job lost, prices down! What is a homeowner to do? Raise prices. If that doesn't succeed. Rent! Then change borkers. Then drop price.
Rent again! No it's a fking coop. Can't rent! Doh!

Change Borker.

Change price.

Change wife.

Pssss. Pssss. W67 advice. Just price it accordingly.

great news for owners!!

The first generation of these leases on co-op buildings, signed in the 1980s, is just now coming up for renewal, said Steven Sladkus, a partner in the law firm Wolf Haldenstein Adler Freeman & Herz. As these leases get renewed, Mr. Sladkus said, “there will be a terrible jump up in cost.”

wow, had no idea that Land Leases started in the 80s.

Never buy a co-op with land lease. Real estate 101 for dummies.

It's not the land leases they are talking about here. It is the tax in creases. "The median real estate tax paid by West Side co-ops rose by 116 percent between 2000 and 2009. Taxes make up a larger proportion of payments, too. In 2000, real estate taxes accounted for only 23 percent of the maintenance paid by East Side co-op owners, according to the report. By 2009, taxes accounted for nearly a third of the maintenance fee."

Potential buyers should take note of how a building spends its money, said Eva Talel, a partner at the law firm Stroock & Stroock & Lavan who directs the firm’s co-op and condo practice. There is no point in moving into a building if you disagree with how the maintenance fees are being spent. Some buyers want fresh flowers in the lobby every day; others, needless to say, do not.

Good find Brooks, that 38% and 59% number sounds like a great bench-marking tool for owners and prospective owners..