Eyeing a Hudson Yards tower with a resort-level amenity list? You are not alone. The question is how to balance those perks with the monthly common charges that come with them. In this guide, you will learn how to quantify the cost of amenities, spot red flags in building budgets, and decide what truly matters for your lifestyle and resale goals. Let’s dive in.
What drives common charges
Hudson Yards buildings were designed as full-service luxury properties with extensive shared spaces and staffing. That ambition creates operating costs that flow directly into your monthly common charges. Understanding those drivers helps you compare buildings on more than just aesthetics.
Amenities that add cost
- Lounges and event spaces require cleaning, staffing, and insurance.
- Fitness and wellness areas need equipment maintenance and replacement, along with utilities for large rooms.
- Pools and spas are energy intensive and require HVAC, dehumidification, and chemicals.
- Outdoor terraces and landscaped areas call for ongoing care and seasonal work.
- 24/7 doorman, concierge, valet, and package operations are major staffing lines.
- Family and pet spaces, business centers, and specialty rooms add utilities, insurance, and maintenance.
How charges are allocated
- In condos, common charges are typically based on your unit’s ownership interest percentage. In co-ops, maintenance uses a share formula.
- Budgets usually break out staffing, utilities, repairs, insurance, management fees, and reserves. Some list amenities explicitly, others do not.
- New buildings may launch with a developer-backed or projected budget. Actuals can shift once occupancy stabilizes.
Put a price on amenities
You can estimate the amenity cost and decide if it is worth it to you. Use a simple, step-by-step approach grounded in building budgets and your expected usage.
Step 1: Know your carrying cost
- Monthly carrying cost = common charges + property taxes (or co-op equivalent) + unit insurance if separate + owner-paid utilities.
- Annual carrying cost = monthly carrying cost × 12.
- Clarify whether heat, hot water, water, and sewer are included in common charges. This affects apples-to-apples comparisons.
Step 2: Estimate the amenity share
- Line-item method: ask management for budget lines tied to amenity staffing, pool and gym utilities, and amenity maintenance. Sum them and divide by total units or by your unit’s percentage if that is the building’s allocation.
- Comparison method: compare per-unit common charges at similar buildings with different amenity breadth. The difference represents an approximate amenity cost.
Result: Annual amenity cost per unit = total annual amenity operating cost ÷ number of units.
Step 3: Translate cost to usage
- Cost per use = annual amenity cost per unit ÷ estimated annual uses by your household.
- Cost per active month = annual amenity cost per unit ÷ months you will actively use those amenities.
- Compare against outside options like independent gyms, pool clubs, childcare or pet services, storage, or parking. If you would pay the same or more off site, in-building amenities may be efficient.
Step 4: Consider resale and premium
- Some buyers pay more for amenity-rich buildings, which can support pricing and liquidity. The premium is not guaranteed and varies by market and buyer mix.
- Compare the incremental carrying cost of amenities to any market premium over your expected ownership period. If the premium and your usage justify the spend, the package may be worth it.
Build your quick calculator
Use this lightweight framework to test a building.
Inputs:
- Monthly common charge
- Property taxes or co-op equivalent
- Whether heat, hot water, and water are included
- Number of units in building
- Annual amenity operating cost from budget, if available
- Your expected annual uses for gym, pool, playroom, or other key amenities
- Outside membership or service costs you would otherwise pay
Outputs and formulas:
- Annual amenity cost per unit = annual amenity operating cost ÷ total units
- Cost per use = annual amenity cost per unit ÷ your estimated annual uses
- Break-even check = compare cost per use to outside membership or service cost
How to apply:
- If your cost per use is lower than alternatives, and you value the convenience, that amenity likely adds real value.
- If your cost per use is higher and you rarely use it, you are subsidizing a feature that may not fit your lifestyle.
Due diligence playbook
Amenities are only as good as the budget that supports them. Ask for documents and answers that reveal the true costs and risks.
Documents to request
- Current year and prior 2–3 years of operating budgets and actual P&Ls
- Reserve fund balance and the latest reserve study, if available
- Board meeting minutes addressing major capital projects or assessments
- Vendor contracts for pools, fitness centers, landscaping, security, and management
- Insurance certificate summaries for common areas and specific amenities
- Offering plan projections and reserve assumptions for new condos
- Recent capital improvement invoices or proposals
- Occupancy and turnover data plus unit mix, if available
- Utility submetering details and what services are included in common charges
Questions to ask
- Which expenses do common charges include, specifically heat, hot water, gas, electricity, and internet in common areas?
- What share of the operating budget supports amenity staffing and maintenance?
- Are any large capital projects planned in the next 3–5 years? Any expected assessments?
- Who manages the pool and fitness center, and what are the contract terms?
- Are there fee-based add-ons or membership caps for premium amenities?
- What are guest policies, reservation rules, and usage limits?
- How are parking and storage priced and allocated?
Red flags to watch
- Low or depleted reserves with sizable capital needs ahead
- Recent or repeated special assessments tied to amenities
- Projected budgets that look overly optimistic vs similar stabilized buildings
- Vendor contracts with automatic renewals and escalating fees without controls
- Lack of transparent line-item detail for amenity costs
Financial tradeoffs for buyers
Affordability and loan impact
High common charges affect your total monthly housing cost and can factor into loan qualification. Lenders consider the all-in expense, not just principal and interest. Make sure your budget accounts for potential increases over time.
Variability and assessments
Amenity costs can rise faster than inflation due to wages, energy, and replacement cycles. If reserves do not keep pace, buildings may levy special assessments. Review reserve studies and historical budget trends to gauge risk.
Taxes and deductibility
In general, HOA or common charges for a primary residence are not deductible on federal taxes. Rules for rental properties differ. Consult a qualified tax advisor for your specific situation.
Resale and buyer pool
Amenity-rich buildings can attract buyers who value convenience and service. Others prefer lower carrying costs. Your future resale will reflect the preferences of the local buyer mix at the time you sell.
Non-financial fit
Lifestyle and convenience
If you will use the gym daily, swim regularly, or need 24/7 concierge, the convenience can be significant. If you rarely use shared spaces, you may be paying for benefits you will not enjoy. Start with an honest usage forecast.
Community and programming
Well-programmed amenities can create a sense of community. Events and classes add value beyond the raw cost. Ask how spaces are scheduled, staffed, and utilized.
Neighborhood substitution in Hudson Yards
Hudson Yards integrates retail, dining, cultural spaces, and public amenities. Some residents use neighborhood offerings instead of in-building features. If you prefer local gyms, parks, or lounges, a lighter amenity package might suit you.
Profiles: choose your path
Wellness-focused user
- Calculate cost per use for fitness, pool, and wellness spaces.
- Value on-site convenience and time savings in your decision.
- Confirm staffing, hours, and reservation systems that affect daily use.
Cost-sensitive buyer
- Prioritize lower common charges and strong reserves.
- Ask about historical increases and any anticipated assessments.
- Confirm which utilities are included to avoid surprises.
Investor lens
- Weigh carrying costs against rental demand for amenity-rich units.
- Assess whether amenities support a rent or sale premium in your target audience.
- Review policy on renters’ access to amenities, as it can affect appeal.
Hudson Yards trends to watch
New luxury buildings in this area tend to carry higher common charges due to large shared spaces and high service levels. After the pandemic, usage patterns shifted, with strong interest in private outdoor space and fitness, while large party rooms saw more varied demand. Because new developments often market extensive amenities to support pricing, compare offering plan projections to actuals at similar stabilized buildings nearby.
How to compare two buildings
- Start with monthly and annual carrying costs for each.
- Estimate the amenity share using line items or a comparison approach.
- Convert to cost per use for the amenities you value most.
- Review reserves, planned projects, and vendor contracts side by side.
- Decide whether you prefer lower fees or higher service, based on your lifestyle and hold period.
Ready for a second opinion?
If you want a clear, numbers-forward comparison of Hudson Yards buildings, we are here to help. We pair market intelligence with a boutique, white-glove process to guide you from short list to confident offer. To discuss your goals and review real budgets, connect with the Steven Cohen Team.
FAQs
What are common charges in Hudson Yards condos?
- They are monthly fees that fund building operating costs such as staffing, utilities for common areas, insurance, repairs, management fees, and reserves.
How can I estimate the pool and gym cost share?
- Request line items for amenity staffing, utilities, and maintenance, sum them for the annual amenity cost, then divide by total units or your unit’s percentage.
Are condo common charges tax deductible in NYC?
- Generally no for a primary residence, while different rules may apply to rental properties, so consult a qualified tax advisor for your situation.
What documents should I review before buying?
- Ask for current and prior budgets, reserve balances and studies, board minutes, vendor contracts, insurance summaries, the offering plan, and recent capital invoices.
Do amenities improve resale value in Hudson Yards?
- Amenities can support pricing and liquidity for some buyers, but premiums vary by market conditions and buyer preferences and are not guaranteed.
What signals a risk of special assessments?
- Low reserves, big upcoming capital needs, recent assessments, unclear amenity costs, and vendor contracts with escalating fees are common warning signs.
