Is Your Co-op Maintenance Too High? Too Low? Find Out Here Now
Dec. 17, 2010 — Some neighborhoods are known for their high sales prices. And likewise, some are known for their co-ops' high monthly maintenance fees. Have you never wondered how your co-op's fees compare with the average in your neighborhood?
Steve Wolgast, a journalism professor and former Manhattan co-op board president, did wonder about just that, and compiled comparative data from The New York Times' weekly sales-report figures for 2006 and 2008. He crunched the numbers and came up with a chart, two lists and analysis of the average maintenance fee per square foot in Manhattan co-ops. Now you can see at a glance whether your maintenance is as high as complaining shareholders say, or so low that real-estate professionals would be worried about your operating budget and reserve fund.
The information, available here in a PDF, includes neighborhood rankings and more. And while it may be a snapshot sampling, you don't have to be a Richard Avedon to get the picture. Click on the chart below for full access.
Steve Wolgast, the former news-design editor for The New York Times and a former board president of The Pinehurst co-op in Manhattan, teaches journalism and digital media at Kansas State University's A.Q. Miller School of Journalism and Mass Communications.
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