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 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.