Monthly condo fees in Back Bay can run from between $85 and $10,246 (you read that last number right). Broker and insatiable numbers wizard David Bates drills down into what makes condo fees jump from the reasonable to the ridiculous. You guessed it—it's the gym.
[W]hen Back Bay condominium fees included heat in the condo fee, the median condo fee went from $565 to $578 a month. That’s a nominal increase. Not all amenities, however, provoke such modest movement in the median fee. For example, Back Bay condominium associations with exercise rooms have median fees that are more than double the median for all of Back Bay condominium sales. As for parking, that maddening commodity in Back Bay and throughout prime downtown Boston, the valeted kind can run a condo fee to two and a half times the median of $565 a month.
Incidentally, according to Bates' research, only one Back Bay condo has no fees at all: tiny 186 Beacon Street. Two rental studios cover the building's expenses.
· How Features Impact Condo Fees [Bates Real Estate Report]
· The Price of Parking in Luxury Boston: $100K [Curbed Boston]
[330 Beacon Street via Sophia Tsakmaklis for Curbed Boston]
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