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April 30, 2006
new construction cost p sq foot what-if
The only past post on this subject I can find is here:
here.
Sooo.. On a 25 foot wide lot in (for example) clinton hill, costing 600k, with buildable FAR being 4500 square foot max, what ALL-IN construction cost can I anticipate for a two family vrick 4 story home that I can be proud to live in? All-in means ... not doing any of the GCing onself, getting a good architect and quality finishes.
If one duplex were sold off (2000 sq foot), can I guess that might cover construction costs of $250 a square foot, leaving one with a custom designed 2500 sq foot home for $600k, and a total project delay of one year?
Is that terribly optimistic?
thanks for any sage advice.
Comments
$250 for hard costs = about right but going up since materials costs are up. Add about $25 psf for soft costs. Also, financing costs etc. Don't be surprised if your one year "delay" is closer to two.
Posted by: Anonymous at May 1, 2006 9:50 PM
$250 for hard costs = about right but going up since materials costs are up. Add about $25 psf for soft costs. Also, financing costs etc. Don't be surprised if your one year "delay" is closer to two.
Posted by: Anonymous at May 1, 2006 9:51 PM
Presumably your math implies selling off the 2000 sq ft unit at $562.50 psf. That allows you to cover the bldg construction costs (excluding the soft cost estimate from above post, as well as fin'g costs). Sounds like a reasonable undertaking in today's marketplace.
Posted by: anon at May 1, 2006 10:27 PM
makes sense to me . . . but then again, so does drinking beer all night and doing shots until the sun comes up!
Posted by: Anonymous at May 2, 2006 10:22 PM
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