Monthly Costs
The monthly costs you pay to the Cooperative include:
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Mortgage principal and interest.
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Mortgage insurance.
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Real Estate taxes.
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Liability insurance for common areas.
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Comprehensive insurance on the entire building.
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Operating expenses.
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One underground heated parking space.
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Sewer, water, and trash removal.
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Snow removal and lawn care services.
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Maintenance – including all interior and exterior repairs.
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Required reserve funds for replacement of cooperative property.
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Professional management by Signature Property Management.
The monthly costs you pay on your own include:
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Electricity.
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Gas.
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Telephone.
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Cable/Internet.
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Personal contents insurance. (HO-6)
Approximate Monthly Cost Breakdown:
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Mortgage principal and interest *
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Reserve funds
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Real estate taxes *
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Common area utilities
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Maintenance and operations **
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Insurance
42%
8%
17%
5%
20%
8%
*Mortgage interest and real estate taxes may be deductible on your income tax.
**Subject to change due to annual variations in operating costs.