12/04/2025
Why NYC condos might cost you more than you think?
One important thing to consider when buying a new development condo in New York City, is the projected monthly costs, especially if you’re one of the first buyers.
You see, before closings begin, developers have 100% control over the building’s budget and determine the estimated costs for each unit. These initial estimates sometimes can be way lower than what’s truly needed to maintain healthy financials in the building.
As more units sell and control shifts to the Condominium Association, the condo board soon is forced to raise monthly dues to cover actual operating expenses, budget for routine maintenance, and keep enough reserve fund.
It’s important to always consult a licensed professional before making a purchase.