What are the Average Monthly Fees in a Co-op & Condo in NYC?

In Manhattan, average monthly fees for co-op apartments are $1.68 per square foot, while condos charge $1.57 a square foot on average, according to the latest data from property appraiser Miller Samuel.

Therefore, a 1,000 square foot co-op apartment would have a monthly maintenance charge of approximately $1,680, and a condominium, approximately $1,570.

This is an average—monthly charges can vary greatly depending upon the property type, amenities, taxes, insurance and financial condition of the building.

Hotel/co-op, hotel/condo and hotel/condop properties generally command the highest monthly charges per square foot in NYC. The fees are higher because residents enjoy all of the amenities of a five star hotel such as maid service, in-home catering, florist, beauty center, business center, laundry, valet, garage, spa and gym.

The Carlyle, 35 East 76th Street

The building that has the highest monthly fees per square foot in NYC is The Carlyle, a hotel/co-op at 35 East 76th Street on the Upper East Side.

The average monthly maintenance charge of the three apartments currently on the market in the building is $16.22 per square foot.

The most expensive apartment currently on the market at The Carlyle is unit 2601-2610 for $17.95 million.

This four-bedroom and four and one-half bath residence is approximately 2,500 square feet and has a monthly maintenance fee of $50,529 ($20.21 per square foot & $606,348 per year).

The price per square foot is approximately $7,180.




Looking to purchase an apartment in NYC? Contact Dickse Fitzgerald