An Advisor for Your Condo or Co-op Board That Knows How Every Other NYC Building Is Run

Updated Nov 7, 2026 · 5 min read

Short answer: Most board decisions are made on gut feel and whatever the managing agent says. They don't have to be. The Condo Book Project has the records of 16,378 NYC condo and co-op offering plans, 2,658 of them in full text, with their amendments, first-year budgets and recorded sales. That makes it an advisor that knows how every other building is run. Stop guessing. See what thousands of buildings decided, and bring data instead of opinions to the board meeting.

The Questions Boards Argue About, Answered With Data

Is our managing agent's fee normal, or are we being overcharged?

The median outside managing agent in new NYC condo plans is paid $970 per home a year, about $19,400 for the whole building. Size matters: it's $1,270 per home in buildings of up to 10 homes and $680 in buildings of 50 or more. If your fee is far above buildings your size, you have something concrete to take to the next contract talk. See what NYC managing agents charge and which firms manage which buildings.

Should we have a live-in super?

It depends on size. 97% of plans for more than 100 homes have a live-in super, but only 7% of plans for 13 to 25 homes do. Smaller buildings mostly use a super who lives elsewhere. See live-in vs. live-out supers and what staff cost per home.

Is our reserve fund too low?

The typical new condo budget puts about $600 per apartment a year into reserves, 10% of the budget. Mortgage lenders often look for reserves of at least 10% of the budget; 74% of reserve lines reach it, and the rest fall short. A thin reserve today is a special assessment later, and it can make it harder for your owners' buyers to get a mortgage. See how much NYC condos keep in reserve.

Are our common charges high?

The typical new NYC condo budgets $6,400 per home a year to run the building. The biggest divide is the front desk: $21,000 per home with a doorman or concierge, $6,100 without. Compare your budget line by line, from payroll to insurance, with similar buildings on the operating expenses and common charges pages. See also how much common charges should be.

How do other buildings handle short-term rentals, pets and alterations?

The rules are written into each building's declaration, by-laws and house rules, which are printed in its offering plan. 23% of NYC condo plans ban renting for "transient, hotel or motel purposes" in those words; see what condo rental rules say. Co-ops change their rules more often than people think: 37% of the co-op plans we read changed a rule in an amendment, from sublets to smoking and pets (see how). Before your board drafts a new pet policy or alteration agreement, search how other buildings worded theirs.

Is the co-op/condo tax abatement worth keeping?

Buildings over a value line must pay staff prevailing wage to keep it, and 47% of the newer condos we studied had no home getting it at all. Run your building in the abatement calculator.

Your Building's Documents, Found and Searchable

New board members spend months hunting for paperwork. For most NYC condos and many co-ops, the founding documents are public, and we've already gathered them:

Where are our documents? Your building's page links its offering plan and its amendments, listed by number and date. See how to find offering plan amendments.
What does our plan actually say? Search the full text of the plan, with page numbers, for the declaration, by-laws, house rules and the sponsor's promises. See what's in an offering plan.
What equipment do we have? Plans describe the building's systems: heating and cooling, hot water, water pressure and elevators. Useful when a contractor quotes a replacement.
What was budgeted, and what changed? The first-year budget (Schedule B), each later budget filed in an amendment, and the tax history from the city's bills. See how to read Schedule A and Schedule B.
Who built it? The developer, architect, contractor and lenders behind the building, for when something goes wrong. See warranty and punch-list claims.

Ask Anything, in Claude or ChatGPT

Connect The Condo Book Project to Claude or ChatGPT and ask in plain English. Every answer cites its source, down to the page of the plan:

"Is our managing agent's fee high for a building our size?"
"How do condos in Brooklyn with 40 to 60 homes word their pet policy?"
"What does our plan say about who pays for terrace repairs?"
"How do our reserves and insurance compare with similar buildings?"

Connect it to Claude or ChatGPT.

Why It Saves Money

Better contracts. A fee benchmark is the strongest card in a managing agent or vendor negotiation.
Fewer surprise assessments. Seeing what peer buildings reserve tells you whether you're saving enough.
Tax breaks you're owed. Many buildings never file for the co-op/condo abatement, or file for only some of the owners who qualify. See the tax breaks owners miss.
Shorter meetings. When the question is "what do other buildings do," the answer takes a minute, not an argument.

FAQ

What is a normal managing agent fee for a NYC condo?

In new NYC condo plans, the median is $970 per home a year: $1,270 per home in buildings of up to 10 homes and $680 in buildings of 50 or more.

How much should a NYC condo have in its reserve fund?

New condo budgets typically put $600 per apartment a year into reserves. Mortgage lenders often look for reserves of at least 10% of the budget; 74% of plans' reserve lines reach that.

Where can our board find our building's offering plan and amendments?

On your building's page on The Condo Book Project, which links the plan and lists every amendment by number and date, from the New York Attorney General's records.

Does The Condo Book Project cover co-ops?

Yes. It includes 300 co-op offering plans along with condos, with the same search across their text.

Is this a replacement for our lawyer or managing agent?

No. It gives your board the facts and comparisons to ask them better questions.

Where this comes from: the New York Attorney General's records for 20,776 offering plans and their amendments, 2,658 read in full text; first-year budgets (Schedule B) from those plans; NYC Department of Finance tax and abatement records; ACRIS. Figures are from offering plans, which show what the developer planned for the building's early years, and are linked to the research behind each. Updated November 2026.