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I have a person I work with who is forcing me to do a cash flow analysis for my own financial planning. I figured that I spend 350 a month when looking at my annual expenses:
Big (surprise) expenses in 6 years other than main renovation:
–2400 for new water heater
–replacement of part of main waste line (after insurance, don’t ask) – 1500
— upgrade of electrical 3,000 (does that count as part of renovation?)
— squirrel disaster recovery 2,000 (this is TRUE)
–7,000 on trees – yes this is real. 3500 to take down a 100+ year tree which was diseased with 5 foot diameter trunk leaning over neighbor’s house/yard. Other huge tree had leaders snapped in Nor’Easter 3 years ago. Other stuff to mollify neighbors (from here on in, Fuck ’em)
So far, I have had different “challenges” here but it really beats coop life by such as large margin I can’t tell you. I have the “headaches” but I also have the autonomy and HUGE tax benefits. I have worked with tenants to create a nice vibe here and they are happy people so it works.
snaps, because of property tax/water and sewer costs many buildings according to the cooperator were raising maintenance in excess of 10% this year. In the past it raised roughly with inflation, but if you’ve got big staffs…..
a lot of condo / co-op buildings in manhattan are scams with a large proportion of the fees paid going to residents’ kids private school education, fancy vacations, big screen TV’s, and classy high priced call girls. im serious.
*rob*
And my fess that I pay to myself go for fancy vacations, dinners and high priced wine and relatively low priced male hustlers.
I’m paying $450/month, plus $70/month property tax, for a 1350 sq ft. apartment. That includes my insurance cost, gym, our capital reserve fund AND the luxury of an elevator that goes right to your apartment. Beats walking up 3 flights of stairs!
You’ve had to spend money on facade and stoop repairs, plus the roof. You have your operational costs (taxes, insurance, other upkeep, etc.) Plus you have to put more time into your place than I certainly do.
Snappy, depends upon how well managed the building is, how new thesystems are and whether or not there’s a large reserve.
When I bought in 1997, fees were somewhere around $380 a month and were $560 when I sold in 2007 but we did have two special assessments (new hallways & lobby and new roof) that amounted to about another $2,000 in total.
I have a person I work with who is forcing me to do a cash flow analysis for my own financial planning. I figured that I spend 350 a month when looking at my annual expenses:
Big (surprise) expenses in 6 years other than main renovation:
–2400 for new water heater
–replacement of part of main waste line (after insurance, don’t ask) – 1500
— upgrade of electrical 3,000 (does that count as part of renovation?)
— squirrel disaster recovery 2,000 (this is TRUE)
–7,000 on trees – yes this is real. 3500 to take down a 100+ year tree which was diseased with 5 foot diameter trunk leaning over neighbor’s house/yard. Other huge tree had leaders snapped in Nor’Easter 3 years ago. Other stuff to mollify neighbors (from here on in, Fuck ’em)
So far, I have had different “challenges” here but it really beats coop life by such as large margin I can’t tell you. I have the “headaches” but I also have the autonomy and HUGE tax benefits. I have worked with tenants to create a nice vibe here and they are happy people so it works.
snaps, because of property tax/water and sewer costs many buildings according to the cooperator were raising maintenance in excess of 10% this year. In the past it raised roughly with inflation, but if you’ve got big staffs…..
a lot of condo / co-op buildings in manhattan are scams with a large proportion of the fees paid going to residents’ kids private school education, fancy vacations, big screen TV’s, and classy high priced call girls. im serious.
*rob*
And my fess that I pay to myself go for fancy vacations, dinners and high priced wine and relatively low priced male hustlers.
i meant nyc. not just manhattan. brooklyn is actually probably more shady when it comes to those kinds of scams and dipping.
*rob*
I see. Thanks.
my maint went up 53% over the 7.5yrs I’ve been in my place and the start pt was already a big #
DIBS;
I’m paying $450/month, plus $70/month property tax, for a 1350 sq ft. apartment. That includes my insurance cost, gym, our capital reserve fund AND the luxury of an elevator that goes right to your apartment. Beats walking up 3 flights of stairs!
You’ve had to spend money on facade and stoop repairs, plus the roof. You have your operational costs (taxes, insurance, other upkeep, etc.) Plus you have to put more time into your place than I certainly do.
GAME====> BENSON!!
Snappy, depends upon how well managed the building is, how new thesystems are and whether or not there’s a large reserve.
When I bought in 1997, fees were somewhere around $380 a month and were $560 when I sold in 2007 but we did have two special assessments (new hallways & lobby and new roof) that amounted to about another $2,000 in total.
Oh Rob, you know good and darn well there’s no proof of that.