Low maintenance co-op buildings on UES?
Started by chloestella7
almost 9 years ago
Posts: 8
Member since: Mar 2009
Discussion about
Does anyone know of a nice prewar coop building on UES w/ low maintenance? Esp. on and in between Park and Madison Ave?
21 East 87th has low maintenance because of retail tenants. I expect there are some other buildings with similar situations on Madison.
What is your tradeoff between 'nice' and 'low maintenace'? At the low end, you will not be getting many services, and may increase your risk of financial issues in the co-op (because they have low maintenance and haven't built reserve funds).
Usually co-ops with high maintenance have a lower selling price, while those with low maintenance have a higher selling price, so it's a trade off. Pay me now or pay me later.
You can just do search using maintenance caps in Streeteasy. In general, for a doorman building you will not find anything less than $1.5 per sq ft. Average is closer to $2 per sq ft. Larger buildings tend to slightly lower maintenance as the cost of doorman etc is spread across more number of units.
It's hard to find a small building which has a doorman and has low maintenance because you have to pay for 24/7/365 bodies at the front door and not to many units to divide the cost between. Will you forego a doorman?
But also, what do you consider to be "low maintenance" and for what sized unit?
To make everybody's point, see https://streeteasy.com/building/33-east-70-street-new_york
$1,200 for eight rooms.
NWT, Impressive. Guessing the coop owns commercial space.
Yes, they do have 2 floors commercial space facing Madison. Given the low maintenance, it seem the coop own the spaces.