As with many answers…..it depends.
A $700 condo fee might be high in a market of condos where the typical fee is $200. However, if a typically $200 -fee-unit doesn’t include heat or elevator, but the $700-fee unit does, that doesn’t really sound that high.
How could a condo fee be $2000? A condo fee of $1500/2000/2500 and more is a typical range of fees for a luxury building and tends to include more amenities and services. The handful of items that immediately take a condo fee into the $1000 plus range would be elevator, garage parking, and staff….where staff not only means a professional management company, but a doorman, concierge, maintenance people, or valets. A $2500 condo fee includes an amount of exacting attention that clients won’t find in $700-fee units.
Are there really condo fees at $4000 and more? Well, yes, there are. Boston condo fees can be in the $4000-6000 range and a bit more. The higher fees are typically synonymous with extraordinary staff and service and are concentrated in the hotel buildings, the Mandarin Oriental, the Four Seasons, the Ritz, and the W and expect to set new heights at the new Four Seasons coming to One Dalton. A recent Globe article points to $15,000 condo fees at One Dalton.