Comparative Study of 1996 Operating Costs
The Comparative Study of 1996 Building Operating Costs has been published
and mailed to CNYC members and sponsors. Additional copies are available
for $5 apiece. Please send a check or money order with your name and mailing
address to CNYC, 250 West 57th Street, New York, NY 10019. If you wish
to become a CNYC member or professional sponsor, please complete our easy
online Membership Registration
The Comparative Study of 1996 Operating Costs -- replete with significant
data on close to 700 cooperatives and condominiums -- was recently sent
to all CNYC member cooperatives and condominiums and to professionals
affiliated with CNYC. This annual analysis provides a framework to help
you decide if your own building is operating economically and efficiently,
by studying the various costs of operating a building. Code numbers are
used to identify the participants, preserving the anonymity of individual
cooperatives and condos.
The Comparative Study looks at assessment and mortgage figures and also
lists the maintenance cost. It then determines amounts spent per room
on wages, fuel, utilities, repairs and maintenance, insurance, management
costs, administrative costs, water and sewer fees, property tax, and debt
service. When possible, elevator maintenance and legal and accounting
costs are each listed separately. The Study also presents summary statistics,
calculating the averages and medians for each item, and the average portion
of total operating budget devoted to each category.
CNYC is already working to compile the 1997 Comparative Study. YOUR 1997
financial statement is important to the Comparative Study. Please forward
your annual financial statement as soon as it is ready, so that your data
can be included. If this is the first time that you will be participating
in the Comparative Study, please include a room count for your building.
When the Study is sent to members and subscribers, buildings that have
contributed are advised of their code numbers so that they can find their
statistics. Each member building will receive its own copy of the Comparative
Study. Additional copies can be purchased from CNYC for $5.