average mtce fees psf on the UWS

It varies building to building and depends on what part of the neighborhood you're in. Taxes are higher in the West 70s than in the West 90s, and accordingly, maintenance tends to be higher. Some co-ops also own the retail space in their buildings along major thoroughfares (I wish mine did) and earn significant income from the commercial leases - this tends to lower maintenance costs considerably. Lastly, some buildings rely on an annual operating assessment to meet expenses while keeping the allocated maintenance costs low, whereas some buildings collect all they need to through maintenance costs.

For a short answer to your question – generally speaking, you will see a range of maintenance costs between $1.50 - $2.50/sf.

Dan Gotlieb
Digs Realty Group
www.digsrealtynyc.com

See below. >$2/sqft per month with door man.

http://www.millersamuel.com/charts/manhattan-hoa-monthly-cost-per-sq-ft-based-on-sales-during-each-quarter/

I am guessing, it includes some buildings without doorman as well. Expect them to go up as the city keeps on raising taxes every year by 5% or higher.

Another data point: I'm taking a listing in the West 80s, full-service building with roof deck, and the maintenance is ~ $1.50 a sf.

ali r.
{downtown broker}

Would people be interested in using (and actually paying for) reference data on coops to answer questions like this?

Something built from offering plans + annual financial statements that would actually show the breakdown of assets / liabilities / income / expenses, and allow comparisons across buildings, or one building against the neighborhood average?

Some aspects of this (income from retail / parking, mortgage amount, interest rate, duration) vary hugely from one building to the next, and have a big impact on current (or future) maintenance amounts.

Also, where possible, solid data on sublet policies, financial requirements for buying into the building, pet policy, etc, etc - all the stuff you usually find out from the listing broker, but without the hassle of visiting the building.

If I don't even want "the hassle of visiting the building," then why do I care about this information for the building?

@fieldchester - to make some assessment of the finances before spending time on a visit. at least for me, some buildings have such a huge mortgage, or terrible interest rate locked in for many years, that I couldn't consider them no matter how nice a given apartment might be.

I find it really weird that New Yorkers "pretty much on the whole" don't seem to care if their property has an underlying mortgage or 'where' their maintenance fees are going.

eg. It doesn't seem to matter if paying off underlying debt etc........as a foreigner I find it really weird.

This said also agree with the comment above about city taxes......I'm not sure how we can fight it but the city seems to be demanding outrageous sums of money from property owners with no end in sight.......

- http://www.LivePoliticalChat.com/dean.collins

Dean, Only a small percentage of New Yorkers own property and they do care very much. These New Yorkers are outvoted by renters (who do not realize why their rent keeps going up) and freeloaders who do not pay for housing at all. Welcome to socialist republic of NYC and De Blasio. In addition, higher taxes is reality due to pension costs and increased social services like the homeless staying in luxury hotels.

We also care about the maintenance fees and how it is spent. Most boards try to minimize the increase the maintenance.

@Dan Digs: "Taxes are higher in the W70s than the W90s." Do you mean because of higher valuations? Isn't it 0.8% of assessed valuation acrosss Manhattan?

@rc10000, yes, the tax rate is the same, but valuations are higher. The rate for the current tax year is 12.892% of the billable assessed value.

Dan Gotlieb
Digs Realty Group
www.digsrealtynyc.com