What is Common Charge (cc) for Manhattan New York condos?

By
Real Estate Agent with Douglas Elliman Real Estate

What is Condo Common Charge in NYC condo descriptions?

If you are a buyer looking at NYC websites to search for a condo, you will see "CC" in many of the condo descriptions or listing information. "CC” is an abbreviation for Common Charge in many of Manhattan New York property listings. Common charge in other parts of the country or world is known as Home Owner Association Dues.

In NYC, a condo owner of the condo unit is responsible for the monthly Common Charge. Typically condo common charges includes the salary of the building staff, operational expenses of the condo common space such as hallway, elevator, lobby, amenities(if any), each units water, gas usage, cool and hot air (the heating and cooling system will vary depending on the building).

Manhattan New York condominiums common charge does not include any Real Estate taxes or underlying building mortgage.

Unlike condos, Manhattan cooperative(Co-Op), there will be a “Maintenance charge” instead of “common charge”. Please note that there is a difference between Maintenance charge and common charge due to the differences of cooperative and condominiums. Co-op monthly maintenance fee is a total of the monthly cost of that particular cooperative unit, which includes the allocated shared building carrying cost, real estate taxes of the cooperative unit, underlying mortgage of the cooperative and etc.

Common Charge monthly bill usually is sent by the condo management on the monthly basis. Owners can make an arrangement with the condo management to pay in advance the common charge if the owner is not local based or will be traveling for a period of time.

If the condo owner uses the condo as an investment or rental property, the owner of the condo is responsible to pay for the monthly common charge not the tenant. It is also advisable that in case of the default of common charge by the tenant, the owner may be liable for additional penalty cost or other serious consequences enforced by the condo management.

Call us today (917)837-8869 and we can discuss your specific Manhattan NY Real Estate needs, if you would like to search for a condo and not sure where to start, we would encourage you to contact us today.

Posted by

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Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

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Topic:
ActiveRain Community
Location:
New York New York County Manhattan Midtown East
Groups:
I Love NY
Condo Benefits
Prudential New York
Condo Specialists
Tags:
cc
common charge

Comments 6 New Comment

Rainmaker
526,117
Morgan Evans
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

Common Charge is a good term, very much like the Home Owner Association dues.

April 19, 2012 06:38 PM
Rainmaker
1,382,023
Laura Cerrano
Authentic Feng Shui Expert
Feng Shui Manhattan Long Island

I agree Commo charge is very non threating and I'm about peace :)

April 19, 2012 07:52 PM
Rainmaker
784,201
Jeffrey DiMuria 321.223.6253 www.SouthBrevardBeachHomes.com
www.SouthBrevardBeachHomes.com
Coldwell Banker Sun Land Realty

makes sense...thanks for the clarification on how the fees work with condos and coops.

April 20, 2012 11:04 AM
Rainmaker
398,592
John Cannata
Texas Home Mortgage - Purchase or Refinance
214-728-0449 http://TexasLoanGuy.com

You descriptions are always very clear! Thanks Eileen!

April 20, 2012 03:46 PM
Rainmaker
1,374,155
Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)
Long Island Condo & Home Sale Specialists
Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803

Eileen, This is a terrific explanation of the difference between Common Charges and Maintenance fees...Nicely done!

April 24, 2012 04:57 AM
Rainmaker
648,171

Eileen Hsu

LICENSED REAL ESTATE SALESPERSON
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Additional Information

New York City Manhattan Real Estate, Bilingual Chinese Speaking Real Estate Agent specialize in Manhattan Condominium market such as Resale Condominiums, New Construction, PreConstruction condos. We work with Oversea foreign buyers, Investors. We Specialize in neighborhoods: Upper West Side, Chelsea, Midtown West, Midtown East, Greenwich Village, Soho, Union Square, Financial District in Manhattan, Williamsburg Brooklyn and Long Island City Queens.

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