NYC Common Charges: What $12.30/sq ft Actually Buys You
Common Charges · Real estate · Reinvent NY glossary
The median is $12.30 per square foot a year, but what that covers varies wildly between buildings — and it is the first place hidden costs surface. See the borough table, what is included, and the assessment red flags to check before you sign.
→What HOA and common charges actually cost in NYCCommon charges are the monthly fees paid by condominium owners to cover the building's operating expenses. In Manhattan, common charges typically range from $1.00-$3.00 per square foot — meaning a 1,000 sq ft apartment pays $1,000-$3,000/month. These fees cover building staff (doorman, super), maintenance, common area cleaning, elevator service, insurance, heating/cooling, and reserve fund contributions. Unlike co-op maintenance fees, common charges do not include property taxes (paid separately). Common charges tend to increase 3-5% annually.
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