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The average co-op maintenance in Manhattan was $1.68 per month in 4Q12. I got a call from Robert Frank at CNBC who was researching maintenance charges for their new reality show – tonight’s show features a $95M co-op listing overlooking Central Park with a large terrace and a $60,000 per month maintenance charge. At nearly 8,000 square feet, that’s $7.50 per square foot per month or 4.5x the Manhattan average co-op maintenance per square foot.
To watch everyone on CNBC’s Sqwawkbox oooh and ahhhhh over the listing, check out the video as well as Robert Frank’s post on maintenance charges.
It remains to be seen whether the market supports the price but whatever the price paid or whoever the buyer is, rest assured they will pay all cash and probably won’t live in it full time.