5 fifty five
Condo Fees by Building
June 05, 2007 23:49 Filed in: Market Analysis
One of the most common questions asked by first time condo buyers -- especially in Austin where the popularity of condos is rapidly on the rise -- is how much individual buildings charge in monthly condo fees.
Condo fees fund the daily operations and maintenance of most condo buildings. They cover security, landscaping, cleaning of common area, common area energy use, maintenance, and other key building functions. On average, our research shows, condo unit owners can expect to pay $0.34 / SF / per month or $340 in monthly condo fees for a 1,000 SF unit. For more information on total condo costs, check out our detailed posting on condo cost of ownership.
Looking at detailed MLS records on more than 30 units on the market today, we've calculated the rough fees for the major downtown condo buildings that currently have units on the market. Almost universally, the fees seem to be calculated on a dollar-per-square foot basis that seems to remain relatively constant on all units throughout each building. So, condo fees are not higher for more expensive units, or units with more bedrooms, or units on higher floors compared to less desirable units of the same size in the same building.
In addition, the prices in the six new buildings that we have looked at our surprisingly constant -- they vary from $0.28 / SF / Month to $0.40 / month -- an amazingly tight range. If anyone has numbers for other buildings, send them to us and we will add them to the list.
Here are the building-by-building statistics:
Condo fees fund the daily operations and maintenance of most condo buildings. They cover security, landscaping, cleaning of common area, common area energy use, maintenance, and other key building functions. On average, our research shows, condo unit owners can expect to pay $0.34 / SF / per month or $340 in monthly condo fees for a 1,000 SF unit. For more information on total condo costs, check out our detailed posting on condo cost of ownership.
Looking at detailed MLS records on more than 30 units on the market today, we've calculated the rough fees for the major downtown condo buildings that currently have units on the market. Almost universally, the fees seem to be calculated on a dollar-per-square foot basis that seems to remain relatively constant on all units throughout each building. So, condo fees are not higher for more expensive units, or units with more bedrooms, or units on higher floors compared to less desirable units of the same size in the same building.
In addition, the prices in the six new buildings that we have looked at our surprisingly constant -- they vary from $0.28 / SF / Month to $0.40 / month -- an amazingly tight range. If anyone has numbers for other buildings, send them to us and we will add them to the list.
Here are the building-by-building statistics:
| Fee by Building | $ / SF / Month |
| Avenue Lofts | $0.28 |
Milago | $0.31 |
The Sabine | $0.33 |
Plaza Lofts | $0.33 |
The Shore | $0.36 |
Five Fifty Five Condos | $0.40 |
All | $0.34 |
Now Available: Real-time Condo Listings!
May 06, 2007 12:16 Filed in: Site News
The purpose of Austin Towers has always been to help downtown austin condo buyers to find the right project and unit. Today, Austin Towers launches a new listing section which will help make this a reality!
The way most people choose a condo is by figuring out which building or buildings they want to live in and then looking to see which units are available. Unfortunately, there has been no great way to do this. With Austin Towers listings, buyers can now view both MLS and developer listings on a building-by-building basis.
With this update, Austin Towers has also added 8 completed projects and a completed project navigator to the site. This will help buyers evaluate and search for units in existing buildings in addition to te many new developments that we have always covered.
Here are the links to the new capabilities:
- Condo Unit Listings
- Completed Project Navigator
And the following new profiles:
- 5 Fifty Five
- Austin City Lofts
- Avenue Lofts
- Brazos Lofts
- Brown Building
- Milago
- Nokonah
- Plaza Lofts
The way most people choose a condo is by figuring out which building or buildings they want to live in and then looking to see which units are available. Unfortunately, there has been no great way to do this. With Austin Towers listings, buyers can now view both MLS and developer listings on a building-by-building basis.
With this update, Austin Towers has also added 8 completed projects and a completed project navigator to the site. This will help buyers evaluate and search for units in existing buildings in addition to te many new developments that we have always covered.
Here are the links to the new capabilities:
- Condo Unit Listings
- Completed Project Navigator
And the following new profiles:
- 5 Fifty Five
- Austin City Lofts
- Avenue Lofts
- Brazos Lofts
- Brown Building
- Milago
- Nokonah
- Plaza Lofts