Since 1980, CNYC has been collecting financial information and publishing an annual Comparative Study of Operating Costs in booklet form which it sends to all its member cooperatives and condominiums and Professional subscribers.
The Comparative Study analyzes operating costs for cooperatives and condominiums in eight categories: 1) East Side Cooperatives, 2) West Side Cooperatives; 3) Small Cooperatives (with fewer than 100 rooms) in Manhattan, 4) Small Brooklyn Cooperatives, 5) Larger Cooperatives Outside of Manhattan, 6) Condominiums in Manhattan, 7) Condominiums outside of Manhattan and 8) Lofts.
Except in the case of lofts, all data is presented on a per room basis, beginning with the current assessment and mortgage figures and carrying charges. The Study then lists as dollars-per-room
spent on labor, heat, utilities, repairs and maintenance, insurance, management, administrative costs, water & sewer fees, and (except for condominiums) property taxes and debt service. When the financial statements indicate amounts paid for elevator maintenance and for attorneys’ and accountants’ fees, those items are listed separately. Information for the small number of participating lofts is presented on the bases of dollars-per-250 square feet for easy comparison with the per-room data in the other categories. The Study goes on to present a ten year recap of summary statistics, calculating the averages and medians for each item and the average portion of total operating budget devoted to each item. Copies of the current Comparative Study can be purchased from CNYC for $35.
NEW COMPARISON TOOL
Now the firm of Decision Fish has created the program that follows, providing a graphic way for participating cooperatives and condominiums to see how their statistics compare with other buildings in their category or with the entire universe of participants in the current Comparative Study. This handy tool will be helpful to CNYC member cooperatives and condominiums in quickly determining areas they should review more carefully. Management can similarly review the performance of their client buildings to identify possible consistencies or need.
CNYC thanks Decision Fish for this excellent enhancement to our Comparative Study
Welcome! We've created this handy tool to help you compare your building's costs to others'. Here's how:
- Enter your building's code as provided by the Council of New York Cooperatives & Condominiums (CNYC).
- Select the Comparison Group of buildings you want to compare it to (or stick with the default).
- Enter Min Units and Max Units if you want to limit the comparison buildings to those within a certain size range.
- Enter a second building number for a head-to-head comparison (will appear in chart as dotted lines)
- To start over, reload the page (press F5).
The tool shows the percentage of buildings in the selected Comparison Group whose costs per room are less than the building whose code you entered. Want to address those high expense categories? Check out the resources at CNYC.
Data is from the CNYC's Comparative Study of 2016 Operating Costs.
The above is for information only. The CNYC and Decision Fish LLC provide this model "as is," and you use it at your own risk. The above parties make no warranties as to performance, merchantability, fitness for a particular purpose, or any other warranties whether expressed or implied. No oral or written communication from or information provided by the above parties shall create a warranty. Under no circumstances shall the above parties be liable for direct, indirect, special, incidental, or consequential damages resulting from the use, misuse, or inability to use this data, even if the above parties have been advised of the possibility of such damages.