Question – In today’s market, is it possible to negotiate on co-op maintenance fees?
Answer - “No,” said Richard Siegler, a Manhattan co-op and condominium lawyer. Maintenance charges under a co-op proprietary lease are customarily determined by multiplying the co-op’s annual cash requirements by a fraction that represents the shareholder’s proportionate ownership interest in the co-op corporation. (Mr. Siegler said that the fraction is determined by dividing the number of shares allocated to the apartment by the total number of shares of the co-op.)
By Jay Romano
Source: The New York Times – U.S.A.
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