Condo/Co-op Comparable Rental Income

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Condominium/Cooperative Comparable Rental Income

Finance is required by State law to value personal use condominiums or cooperatives like they were rental apartments. We take income information from rental properties similar to your condominium or cooperative in physical features and location. We then apply this data to determine the value.

Comparable Rental Income for Condominiums in
all five boroughs
Comparable Rental Income for Cooperatives in
all five boroughs

How Finance Chooses Comparable Rental Properties

Finance chooses similar properties based on a combination of:

Land/location including view and transportation
services provided in the community
income levels of the area residents
building construction including:
- age
- type (standard or luxury)
- number and size of units
- improvements
government regulations and programs
rent control and stabilization units
exemptions and subsidies

Access Comparable Rental Income for Condominiums in all five boroughs

Note: To search for specific data in the files below, use the Adobe Acrobat Search feature or press Ctrl + F in Excel.

Fiscal Year 2009/2010	Adobe PDF	Excel
Manhattan	1.1M	465k
Bronx	103k	38k
Brooklyn	469k	181k
Queens	365k	145k
Staten Island	68k	22k

Access Comparable Rental Income for Cooperative(s) in all five boroughs

Note: To search for specific data in the files below, use the Adobe Acrobat Search feature or press Ctrl + F in Excel.

Fiscal Year 2009/2010	Adobe PDF	Excel
Manhattan	2.6M	1.1M
Bronx	473k	198k
Brooklyn	986k	396k
Queens	984k	402k
Staten Island	67k	22k

Public Help With Choosing Comparables
Finance provides comparable rentals we used to value your condo/coop building for fiscal year 2009/2010. You may wish to identify other comparable rental properties and ask us to use this information. If so, complete the Request for Review Application (Part A, Part B and item 3 of Part C). We will examine this information for possible use in determining the 2010/11 market value.

Challenging Finance’s Choice of Comparables
You may believe Finance did not use the best properties as comparables to value your property. You have the right to file an Application for Correction with the Tax Commission by March 1st of every year.