Adler reviews affordability breakdowns and monthly maintenance estimates
Adler presents AMI affordability tables for existing and new residents, explains that typical NYC apartment operating costs run $1,000-$1,500/month, and details estimated monthly maintenance fees of approximately $1,191 per unit, adjusted to include a 10% cushion for reserves.
Next slide, please.
This is just an overview of what this affordability looks like.
As mentioned before, this is the breakdown for existing and new residents for what the affordability looks like.
And those are the numbers on what 80%, 100% AMI actually looks like for a family of three in New York this year.
Next slide, please.
It costs about $1,000 to $1,500 each month to properly operate one apartment in a New York City building.
Tenants through TIL, often because of the state of these TIL buildings, pay a lot less than this.
This is the breakdown of what the average unit in this project would be paying per month in their maintenance fees.
These are taken from...
These are taken from estimates and guidelines that HPD uses for all of its homeownership buildings from a partner that breaks it down for each example expense line.
This is adjusted for also the nature of the buildings that we're working with here and adjusted to also include the cushion I mentioned before, the 10%.
So it comes out to $11.91 per month.