Posted by Jonathan J. Miller -Monday, October 31, 2011, 1:00 PM
I gave some thoughts to Teri Rogers for her new Real Estate Survival column in amNY which is now posted on her must-read apartment survival guide resource: Brick Underground.
One of the items I mentioned concerned monthly carrying charges…I get asked this all the time, so here goes:
The average Manhattan co-op maintenance per square foot in 3Q 2011 was $1.53.
The average Manhattan condo common charge + real estate tax per square foot in 3Q 2011 was $1.40 ($0.91 CC + $0.49 RET).
The lower monthly condo costs are due primarily to the inclusion of tax abated buildings which have unusually low real estate taxes.
I’d conclude that the overall average monthly for Manhattan co-ops and condos are fairly similar.