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June 27, 2007
Co-op Elevator Repalcement Cost
Thinking of bidding on a co-op. 6 floor, 60 unit building with single elevator which we were told is being replaced shortly. Any idea what the cost for that would be? Do co-ops usually have you pay the assessment over a year or do they apply it for more? Thanks
Comments
$165,000 if hydraulic, $220,000 if electric (travel distance is probably on the borderline of working with hydraulic). Cab finishes beyond standard are extra, typically a $25,000 to $30,000 uptick in a good quality building.
Posted by: John Ife at June 27, 2007 9:25 AM
$200,000 sounds about right. It probably won't be a hydraulic becuase it's more than 3-4 stories.
Posted by: Anonymous at June 27, 2007 10:18 AM
The assesment would vary on whether the co-op has the money or not. I doubt the elevator repair company will have a payment plan. So if the co-op doesn't have the money in reserves to cover the repair they may asses in a lump sum. Maybe they budgeted for it and won't asses at all (doubtful )
Posted by: Alisa at June 27, 2007 8:10 PM
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