Superintendent units in new condo buildings are they to be offered at market value?

In short the answer is yes. The super’s unit is usually a larger apartment that the sponsor thinks they may have more trouble to sell, but can fit the Super’s whole family (exact specifics of the kind of unit most optimal for a super’s apartment is going to vary by the type of building and neighborhood of course, but many buildings look for their Super’s to be stable and resposible family men and women for obvious reasons and have good apartments set aside for them)…but, It might be a first floor apartment or facing a court yard with limited light etc.  These factors are considered and the unit is priced accordingly.  The price should be inline with the rest of the building’s price per square foot- unless the unit is severely handicapped. The offering plan should explain how the super’s apartment will be paid for.  In my 7 years of experience of selling and purchasing new construction condos in Manhattan and Brooklyn I have seen a couple of different ways the new residences pay for the superintendent unit.  In the closing costs, the purchaser might pay a “super’s unit fee” which will be based on the unit’s % common interest in the building multiplied by the market price as listed in the “Schedule A” of the offering plan. Also I have seen the Super’s unit financed and the payments are factored into the common charges.  I am happy to disuss this further and any other purchase related questions you may have. You can reach me at 917.690.6065\. John Chubet – Associate Broker –  Imagine Living