Storage Bins

They are priced to what the seller thinks the market will pay.

Determining the rationality of that decision, as well as deciding how convenient an in-building bin is vs. an off-site storage facility is left as an exercise to the reader.

Our "new" condo building (just as a point of comparison) doesn't sell the units. They are "leased" by the association to the owner of each unit. So in effect, the price to use is included.

I had to try and figure this out at one point and seemed that they were anywhere between 5,000 and 15,000 in newer buildings. Is it new building or resale?

Here's a discussion I was involved with a few years ago. Buried in it is a post by somewhereelse and printer about reasonable cost.

http://streeteasy.com/nyc/talk/discussion/21583-how-much-is-a-condo-storage-bin

At the Laureate all but one sold with an apartment, so couldn't break out the prices.

The one loose sale was for $55,000, including transfer taxes, etc. Those're real rooms, though, 60-odd ft² on upper floors, not wire-walled bins in the cellar.

For a storage room in the basement, 10-20% of the cost of the apt per sq ft assuming 8 foot ceilings. New development overprice and may throw them in for free with the apt so that people feel that they got a discount.

agree with 300_mercer. New development its mostly there as a concession so that buyers feel they got something.