Schedule A and Schedule B: Reading Prices, Common Charges and the Budget in a Condo Offering Plan

Updated Sep 25, 2026 · 4 min read

Short answer: Schedule A is the offering plan's price list, one row per unit with its size, price, share of the building and projected monthly common charges and taxes. Schedule B is the building's projected first-year budget, and each unit's common charge is that budget times its share. The Attorney General's rules fix what both must show, and they tell you where the numbers are soft: square footage is measured generously, the budget's utilities and insurance rest on stated assumptions, and the first closing came a median 8 months into the original budget year in the plans we checked.

Where the Rules Come From

Both schedules follow a format set by the Attorney General's rules for new-construction condo plans, 13 NYCRR Part 20, section 20.3(g) and (h). Knowing those rules tells you which numbers are firm and which are soft.

Schedule A: The Unit-by-Unit Price List

The rules require these columns for every unit, with totals, all for a stated 12-month period:

Unit, with bedrooms and bathrooms.
Approximate square footage. A footnote must say how it was measured. Plan square footage usually runs to the outside of exterior walls and the middle of interior ones, so it's larger than the space you can use.
Offering price at filing. The "total offering price" on the AG's record is just this column added up, not what units sold for.
Percentage of common interest: your share of the common elements. It sets your share of the budget and your vote.
Projected monthly common charges for the first year: the Schedule B total times your common interest, divided by 12.
Projected monthly and annual real estate taxes, with the assumptions (including any tax exemption) in a footnote.
Total monthly carrying charges: common charges plus taxes, plus mortgage if the sponsor offers financing.

Parking spaces and storage sold as separate units appear here too, with their own common interest. If a space isn't in Schedule A, it's a license or a limited common element, not a unit you own.

Schedule B: The First-Year Budget

Schedule B projects income (mostly common charges) and expenses in a set order: labor, heating, electricity and gas, water and sewer, repairs and supplies, service contracts, insurance, management, legal and audit, then contingency and any yearly reserve. Each line needs a footnote giving its basis. A few of the rules behind those footnotes:

Utilities: current tariff plus a stated increase. Most budgets add about 10%.
Labor: head count, union status, each benefit, and raises already set by contract.
Insurance: replacement cost, with limits and deductibles shown. The line is the broker's quote; 13 of 717 recent insurance footnotes add any allowance for the renewal.
Management: if no paid manager is budgeted, the plan must flag it as a special risk and say charges will rise.
Reserve: the plan must say whether it's enough for capital needs in the first five years. Part 20 sets no minimum.

An expert with property management experience, hired by the sponsor, certifies that the budget is "reasonable and adequate" (section 20.4(d)). For the line-by-line numbers, see what a new NYC condo spends in year one.

What to Check

Use the latest version. If the start of condo operations slips more than six months past the budget year, the sponsor must file a revised budget by amendment. In the plans we checked, the first closing came a median 8 months into the original budget year. (How to find amendments.)
Know the 25% line. If a revised budget is 25% or more above the original, every purchaser can rescind and get the deposit back. Below that, you absorb the increase.
Read the tax footnote. Taxes shown with an exemption rise as it phases out.
Compare per square foot. Divide a unit's monthly common charge by its square footage to compare buildings.
Check what's missing. A doorman that isn't in the payroll footnote isn't in the budget.

How to Find Schedule A and Schedule B

In the plan PDF the schedules usually sit together, near the front after the introductory sections or in the back with the exhibits. The page headers say "Schedule A" and "Schedule B".

On The Condo Book Project, a searchable plan's building page tells you where to look. The Pricing & units tab lists the pages headed Schedule A, the Budget & charges tab lists the pages headed Schedule B, amendments included. For example, see the Residences at Prospect Place (CD240334). To look across many buildings, search for Schedule B budgets or Schedule A, then narrow by borough, neighborhood, size or parking.

FAQ

Are Schedule A prices what the units sold for?

No. They are the sponsor's offering prices when the schedule was filed. Actual prices can be higher or lower and are recorded when each unit closes.

Are Schedule B common charges guaranteed?

No. They are first-year projections. If the budget is revised by 25% or more before operations begin, purchasers can rescind; otherwise the plan's own terms say what, if anything, the sponsor guarantees.

What is the percentage of common interest?

Each unit's share of the condominium's common elements, set out in Schedule A and the declaration. It determines that unit's share of common charges and its voting weight.

Who checks the Schedule B budget?

An expert the sponsor hires certifies it as reasonable and adequate. The Attorney General reviews the plan for disclosure, not for whether the budget is right.