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Isn’t a $700 condo fee expensive?

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.

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Four Seasons $3412 Condo Fee for 1601sf unit
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Mandarin Oriental $4202 Condo fee for 1590sf unit.
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The Ritz $2402 Condo fee for 1343sf unit

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.

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The New Four Seasons $15,000? Condo fees at One Dalton may set new records.

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