Maintenance Fees 101 + NYC co-ops with maintenance fees under $1,200/month

By Cait Etherington | From Get To Know Monday, December 4, 2023

In co-ops, fees are generally set based on the size of the apartment.

It may sound hard to believe now, but there was a time when New York City condo and co-op prices were relatively in sync. The amenity craze had yet to take hold in new condominiums, which didn't differentiate them much from cooperatives. Moreover, in a slightly more dangerous city, a full-time doorman and an additional slate of gatekeepers (also known as the co-op board) was seen by many as a must-have. As a result of the evolution of the city and real estate market, CityRealty listings show that median Manhattan asking prices are a whopping $2,475,024 for condos and only (!!) $996,554 for their co-op counterparts.

However, that is not to say that co-ops are necessarily the place to go for bargains. The cost of one’s maintenance fees must be taken into account since, in New York City, fees are often extremely high. While fees in an older walk-up in Brooklyn may be just a few hundred dollars per month, fees in prestigious Manhattan co-ops are several thousands of dollars each month. In fact, some co-ops can come with extremely low sticker prices but maintenance fees as high as, if not higher than, one’s monthly mortgage payment (this listing is an excellent example). Just as we recently examined condo common charges, this article examines co-op maintenance fees in detail, discusses how they are set, and how to avoid excessively high fees if and when possible.

What Co-op Fees Cover

In co-ops, all shareholders pay co-op fees. Generally, co-op fees include property taxes, any underlying mortgage on the building, and building insurance. In many buildings, utilities (e.g., heat and hot water, electricity, and gas) are also included in the fees. One’s fees likely also cover other regular upkeep costs (e.g., landscaping, pest control, etc.). Finally, fees cover building staff salaries and any additional services. As a result, the more staff and services found in the building, the higher the fees.

How Co-op Fees Are Set

In co-ops, fees are generally set based on the size of the apartment. As a result, if you combine two units, expect to pay higher fees. In some cases, other factors, including the floor level, may also be taken into account when setting fees.

349 6th Avenue living room (Compass)

Negotiating Co-op Fees

Co-op fees are set by the co-op board and voted on at an annual meeting for shareholders. Small fee increases are expected (e.g., to cover higher taxes or fuel costs). Also, from time to time, a building may need to temporarily charge higher fees to cover the cost of a major capital improvement or repair. For example, many buildings are forced to raise their fees as a result of façade work. However, fees can also be a source of controversy in some co-op buildings.

While some shareholders may want to renovate the lobby or install a gym and be happy to pay higher fees in the process, other shareholders may consider such additions and the related costs unnecessary. Where majority rules, however, there isn’t much a shareholder can do. Ultimately, once the fees are set, shareholders are obliged to pay the fees as long as they remain shareholders in the building. This is one of the risks of buying in a co-op building. Of course, there is always one line of recourse: Shareholders who feel spending is out of control can always get elected to their co-op board and put an end to the frivolous spending and soaring fees.

Astoria Lights, #A8
$499,000

Astoria/LIC | Cooperative | 1 Bedroom, 1 Bath
Monthly Maintenance: $703

Astoria Lights, #A8 (Corcoran Group)

From the Listing: Come home to this truly remarkable one-bedroom, one-bath apartment in the much sought after Astoria Lights co-op. #A8 opens into a glorious living room with an adjacent modern kitchen featuring an island and top brand-name appliances such as Fisher & Paykel, Bosch and Bertazzoni stove and microwave, perfect to entertain your next gathering. From the living room, there is immediate access to a generous primary bedroom. Traditional pre-war moldings and beautiful exposed brick walls add to the personality of this unit. No board interview and no board approval required. See floor plan and full details here.

611 41st Street, #L
$550,000

Sunset Park | Cooperative | 2 Bedrooms, 1 Bath
Monthly Maintenance: $542

611 41st Street, #L (Compass)

From the Listing: Situated on a leafy street directly bordering Sunset Park, this co-op features unimpeded south-facing views of trees, sky, and the park, offering a peaceful retreat from the hustle and bustle of the city. An abundance of natural light streams in through the windows of this home, creating a bright and airy atmosphere throughout. From the original picture moldings to the glass-paneled doors, this home exudes character and charm. See floor plan and full details here.

231 Park Place, #12
$595,000 (-3.3%)

Prospect Heights | Cooperative | 1 Bedroom, 1 Bath | 525 ft²
Monthly Maintenance: $604

231 Park Place, #12 (Compass)

From the Listing: Unit 12 boasts a bright, airy atmosphere, with an open-concept living and kitchen. The kitchen features brand-new stainless steel appliances, adding a touch of modernity to this Co-op home. The original hardwood floors exude warmth and character, creating a timeless appeal. Situated just minutes from Prospect Park, you'll have easy access to nature's beauty and various outdoor activities. See floor plan and full details here.

452 West 50th Street, #4W
$599,000 (-14.3%)

Midtown West | Cooperative | 1 Bedroom, 1 Bath | 755 ft²
Monthly Maintenance: $650

452 West 50th Street, #4W (Compass)

From the Listing: This 5-room floor-through offers exceptional space and flexibility to have separate work areas and a second junior bedroom. The living room is anchored by exposed brick and 9.5-foot ceilings and features a fireplace with the original etched slate mantle reminiscent of a bygone era. Even the kitchen is charming with exposed brick, original beamed ceilings and a window overlooking the building’s private garden. See floor plan and full details here.

507 President Street, #3L
$680,000

Gowanus | Cooperative | 1 Bedroom, 1 Bath
Monthly Maintenance: $475

507 President Street, #3L (Compass)

From the Listing: This beautiful Brooklyn home was gut renovated down to the studs and completed in 2021. Starting with the floors, natural hickory solid hardwood flanks the entire apartment on top of a sound proof double layered vinyl interleaving in addition to double layered ceilings and floating double layered walls. The kitchen features a beautiful Bosch appliance package, LG all-in-one washer dryer, and custom concrete countertops. The modern bathroom is compromised of Kohler finishes and an electric towel warmer. All new electrical, plumbing and insulation throughout was completed during the renovation. See floor plan and full details here.

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Parker Gramercy, #1920
$695,000

Flatiron/Union Square | Cooperative | Studio, 1 Bath
Monthly Maintenance: $732

Parker Gramercy, #1920 (Compass)

From the Listing: Nestled within The Parker Gramercy, just off Fifth Avenue, is a meticulously gut-renovated jewel box studio on the 19th floor where beauty, precision, and function converge. The kitchen materials were thoughtfully chosen, with a stunning stone serving as the focal point that harmonizes with the overall design. The studio's design maximizes storage through three spacious closets and an additional custom pantry. Attention to detail extends to integrated lighting, hidden power outlets, and color-matched face-plates and PTAC grills. See floor plan and full details here.

Southbridge Towers, #20J
$695,000

Financial District | Cooperative | 1 Bedroom, 1 Bath
Monthly Maintenance: $753

Southbridge Towers, #20J (Brown Harris Stevens Residential Sales LLC)

From the Listing: High floor and partially renovated one-bedroom with large private balcony and unbeatable panoramic views of Manhattan's iconic skyline! Step into this quiet and peaceful home and you are immediately greeted by a wall of west-facing windows that let light pour in. The private 76-square-foot balcony is the perfect oasis overlooking the city to enjoy a morning coffee or evening cocktail. The living/dining room is a remarkable size, with more than enough space for a large living area with plenty of room left over for a completely separate dining area. Electricity included in maintenance. See floor plan and full details here.

507 President Street, #3R
$745,000

Gowanus | Cooperative | 1 Bedroom, 1 Bath
Monthly Maintenance: $475

507 President Street, #3R (Compass)

From the Listing: This beautifully renovated floor-through has northern and southern exposures designed to maximize the day-long natural light. The north exposure treats you to a tranquil view of the co-op’s leafy common garden, while the south exposure has tree top views and overlooks a quiet, single-block street. The open chef’s kitchen features a Bertazzoni stove and hood, 2 under-the-counter Summit fridges and freezers, and a Miele washer. The residence comes with private storage in the basement. See floor plan and full details here.

440 9th Street, #3
$750,000

Park Slope | Cooperative | 1 Bedroom, 1 Bath
Monthly Maintenance: $802

440 9th Street, #3 (Corcoran Group)

From the Listing: Homeowners and guests are greeted by original wood floors, exposed brick and period plaster detail throughout. The living room is adorned with two north-facing windows and features an adjacent office space along with a third window. At the opposite corner, there is a custom-built banquette which can comfortably seat four. The galley kitchen has been updated with fresh floor tiling and all new appliances including stainless steel fridge, oven, dishwasher and microwave. High ceilings and glass transom windows between rooms ensure the entire space is bright from dawn to dusk. See floor plan and full details here.

135 Prospect Park West, #12A
$849,000 (-5.6%)

Park Slope | Cooperative | 1 Bedroom, 1 Bath
Monthly Maintenance: $832

135 Prospect Park West, #12A (Brown Harris Stevens Brooklyn LLC)

From the Listing: Across the street from glorious Prospect Park, unit 12A is a charming and spacious elevated first floor, one-bedroom apartment with high ceilings and gorgeous original details. Upon entering this special residence, the wide hallway will lead you to a comfortable living space and semi-open kitchen, characterized by beautiful period details and extra-large windows facing the park. The peaceful bedroom is oversized and has plenty of space to accommodate a home office. See floor plan and full details here.

Hillman Coop, #D5A
$875,000

Lower East Side | Cooperative | 2 Bedrooms, 1 Bath
Monthly Maintenance: $980

Hillman Coop, #D5A (Nestapple Inc)

From the Listing: Walk into this fully renovated, spacious, modernized, open floorplan two-bedroom downtown apartment. It features high beamed ceilings and large south-facing windows with lots of natural light and downtown skyline and One World views. The open cook's kitchen has custom European cabinetry, granite countertops, and stainless-steel appliances. The primary bedroom has two exposures facing south and west, with a large walk-in closet. The second bedroom is big enough to fit a king-size bed plus additional storage. See floor plan and full details here.

The Saint Mark, #6R
$895,000 (-5.8%)

East Village | Cooperative | 1 Bedroom, 1 Bath
Monthly Maintenance: $914

The Saint Mark, #6R (Douglas Elliman Real Estate)

From the Listing: Enormous one-bedroom, with full-time doorman, in the heart of the Village! With beautiful hardwood floors and large windows facing west, you will enjoy open views and great light while also being pin-drop quiet. A large living room is the perfect size to host friends for dinner. Chefs will be right at home in the generous kitchen, adorned with marble counters, custom cabinets, Bertazzoni stove, stainless steel refrigerator and dishwasher. See floor plan and full details here.

1209 Eighth Avenue, #4R
$1,100,000

Park Slope | Cooperative | 2 Bedrooms, 1 Bath
Monthly Maintenance: $946

1209 Eighth Avenue, #4R (Compass)

From the Listing: Just a block from Prospect Park, this top-floor 2-bedroom coop apartment has been meticulously renovated. Thoughtfully designed to create a modern and inviting atmosphere while maintaining prewar charm, the open floor plan seamlessly connects the living, dining, and kitchen areas, making it perfect for entertaining. The wood-burning fireplace has been updated with a new marble mantel and stone lining, including a wood-storage area. Up one flight of stairs is the roof deck, shared with one other unit (each unit has exclusive roof rights to half of the roof). See floor plan and full details here.

674 Carroll Street, #2
$1,150,000

Park Slope | Cooperative | 2 Bedrooms, 1 Bath
Monthly Maintenance: $800

674 Carroll Street, #2 (Compass)

From the Listing: This charming, meticulously maintained two-bedroom co-op is situated on one of Park Slope's most desirable tree-lined streets. The open living-dining area features high ceilings, beautiful hardwood floors, and a separate nook perfect for a home office. The well thought out kitchen welcomes you with plenty of storage, a large island with counter seating, and stainless steel appliances. The home's well-proportioned, windowed bedrooms are located down the hall, providing a nice separation of space, each with their own extensive closets. See floor plan and full details here.

Berkley Square, #E7
$1,125,000

Flatbush | Cooperative | 2 Bedrooms, 2 Baths
Monthly Maintenance: $746

Berkley Square, #E7 (Douglas Elliman Real Estate)

From the Listing: Sprawling two-bedroom, two-bathroom unit located in Prospect Park South in a highly sought-after pre-war co-op building! The apartment runs from the front to the back of the building and has fantastic light, four exposures, and leafy, tree-top views. This warm and inviting home begins in the magnificent living room with sunny southern exposure and beautiful parquet hardwood floors. The adjacent enormous eat-in kitchen has lots of counter space and cabinet storage, a dishwasher, and sunset views from the large dining space overlooking the historic Knickerbocker tennis club. See floor plan and full details here.

Columbus Park Tower, #21E
$1,175,000

Broadway Corridor | Cooperative | 2 Bedrooms, 1 Bath
Monthly Maintenance: $908

Columbus Park Tower, #21E (Corcoran Group)

From the Listing: This beautiful coop boasts a modern interior and splendid city, park, and skyline views from its lofty perch on the 21st floor of a high-rise building. With an inviting layout that's filled with charm from top to bottom, you'll immediately feel right at home in this tastefully designed and maintained unit. The sophisticated space features two roomy bedrooms and a well-appointed full bathroom that's recently renovated, creating a retreat-like environment that's truly hard to resist. See floor plan and full details here.

250 West 27th Street, #4E
$1,195,000

Chelsea | Cooperative | 1 Bedroom, 1 Bath | 900 ft²
Monthly Maintenance: $1,127

250 West 27th Street, #4E (Sothebys International Realty)

From the Listing: This authentic one bedroom, pre-war Coop with a mix of modern, vintage and industrial touches is located in the former historic factory 250 West 27th Street, originally constructed in 1918. It features exposed brick walls, rough-hewn 19th century columns and beams, a wall of custom built-in bookcases for both books and storage, all juxtaposed with stylish modern finishes. The sprawling main Living area provides plenty of space for relaxing, dining, and entertaining. A sleek open kitchen is well equipped with Poliform Varenna cabinetry, Carrara marble countertops, and top-of-the-line appliances. See floor plan and full details here.

425 West 24th Street, #3GF
$1,300,000

Chelsea | Cooperative | 2 Bedrooms, 2 Baths
Monthly Maintenance: $1,077

425 West 24th Street, #3GF (Compass)

From the Listing: This freshly combined and beautifully renovated 2-bedroom home is in mint condition and ready for its first owner! The living room has a decorative fireplace with updated wiring for your TV and entertainment needs, and the apartment is pin-drop quiet. The gorgeous kitchen has marbleized quartz countertops, custom cabinetry and brand new Bosch appliances. The bathrooms with updated plumbing and electric are tastefully tiled to create a modern feeling while respecting the building’s pre-war aesthetic. See floor plan and full details here.

563 5th Street, #3
$1,325,000

Park Slope | Cooperative | 2 Bedrooms, 2 Baths
Monthly Maintenance: $615

563 5th Street, #3 (Compass)

From the Listing: Situated on the second floor of a gorgeous 4-unit brownstone co-op, this thoughtfully renovated home maximizes both style and functionality. It features an open kitchen with ample custom wood cabinetry, Pietra Cardosa natural stone countertops, open shelving, a waterfall island with counter seating, garbage disposal and Jenn Air stove. The southern-facing living room has four windows that allow light to stream in all day, a working fireplace and a separate dining area. A large private deck is perfect for year-round grilling, urban gardening or morning meditation. See floor plan and full details here.

349 Sixth Avenue, #2
$1,495,000 (-6.3%)

Park Slope | Cooperative | 3 Bedrooms, 1 Bath
Monthly Maintenance: $670

349 Sixth Avenue, #2 (Compass)

From the Listing: Cool, calm, and exceptionally chic 3-bedroom, 1-bath in a stellar Park Slope location! The kitchen is open to the dining and living area which spans the full width of the apartment and is bathed in light from 3 large windows. The working fireplace provides a warm focal point. It is a phenomenal space for relaxing or entertaining. The bright, spacious primary bedroom has two windows, and all the bedrooms have good closets. See floor plan and full details here.

Seward Park (1-2), #L301
$1,595,000

Lower East Side | Cooperative | 3 Bedrooms, 2 Baths | 1,000 ft²
Monthly Maintenance: $1,104

Seward Park (1-2), #L301 (LoHo Realty Inc)

From the Listing: No detail was spared in this beautiful, fully renovated apartment with eastern and western exposures! An open concept, the apartment boasts an expansive space with a living room at one end, and a kitchen at the other. The sleek, modern kitchen features Italian marble counters, an abundance of cabinetry, stainless steel appliances is open to the large living room and separated by only a custom island bar. Solid wood pocket door separates each of the bedrooms from the main living space for sound isolation and privacy. Custom lighting, five additional oversized closets, wood plank floors, sold woods doors and new molding throughout. See floor plan and full details here.

528 4th Street, #3
$1,699,000

Park Slope | Cooperative | 3 Bedrooms, 2 Baths
Monthly Maintenance: $990

528 4th Street, #3 (Corcoran Group)

From the Listing: Dramatic loft-like duplex coop on a leafy tree lined park block in the center of Park Slope! This jewel box home boasts two ample bedrooms plus a mezzanine den and two brand new full bathrooms, the den which could easily be converted to an additional bedroom makes a wonderful media room or playroom. This airy unique loft property features soaring 16' ceilings in the light filled, loft-like living and dining rooms. There are two south facing terraces, one off of each level, central air conditioning and full sized washer/dryer. See floor plan and full details here.

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Contributing Writer Cait Etherington Cait Etherington has over twenty years of experience working as a journalist and communications consultant. Her articles and reviews have been published in newspapers and magazines across the United States and internationally. An experienced financial writer, Cait is committed to exposing the human side of stories about contemporary business, banking and workplace relations. She also enjoys writing about trends, lifestyles and real estate in New York City where she lives with her family in a cozy apartment on the twentieth floor of a Manhattan high rise.

Read Full Bio | Contact Cait Etherington

This is your member's center

In this article:

What Co-op Fees Cover

How Co-op Fees Are Set

Negotiating Co-op Fees

Astoria Lights, #A8
$499,000

611 41st Street, #L
$550,000

231 Park Place, #12
$595,000 (-3.3%)

452 West 50th Street, #4W
$599,000 (-14.3%)

507 President Street, #3L
$680,000

Select which properties are of interest to you:

Parker Gramercy, #1920
$695,000

Southbridge Towers, #20J
$695,000

507 President Street, #3R
$745,000

440 9th Street, #3
$750,000

135 Prospect Park West, #12A
$849,000 (-5.6%)

Hillman Coop, #D5A
$875,000

The Saint Mark, #6R
$895,000 (-5.8%)

1209 Eighth Avenue, #4R
$1,100,000

674 Carroll Street, #2
$1,150,000

Berkley Square, #E7
$1,125,000

Columbus Park Tower, #21E
$1,175,000

250 West 27th Street, #4E
$1,195,000

425 West 24th Street, #3GF
$1,300,000

563 5th Street, #3
$1,325,000

349 Sixth Avenue, #2
$1,495,000 (-6.3%)

Seward Park (1-2), #L301
$1,595,000

528 4th Street, #3
$1,699,000

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In this article:

What Co-op Fees Cover

How Co-op Fees Are Set

Negotiating Co-op Fees

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Select which properties are of interest to you:

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