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August 12, 2007
Renovation Estimate
Hi - Would like some thoughts on how to estimate renovation costs. Would like to make an offer on an old coop apartment that needs updating - 3 bathrooms, kitchen, put in central Air, new wiring and new closets/storage space. No structural work - but needs to be updated. Any suggestions would be welcomed. Thanks
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I'll give you ballpark numbers - I will assume your co-op is not fussy and will accept a GC with insurance. My old co-op insisted on the electricians and plumbers getting additional insurance. 3 bathrooms - assuming new fixtures, walls, but no change in plumbing position - 10k+ apiece. Kitchen - 15k+ (again assuming just removal of cabinets and no big change in plumbing/demo of walls). New wiring everywhere - 5k+. Closets - need more info. Central air - need more info on your space, I would say 15k+. This is the very low end of the spectrum. You can only go cheaper if you put in some sweat equity or act as your own GC.
Posted by: guest at August 12, 2007 12:42 PM
12:42 sounds low. would be surprised if you could find anyone decent to do this for less than $100K--of course depends a lot on whether you're getting a lot of new fixtures or just cleaning up what's there...
Posted by: brownstoner at August 12, 2007 1:07 PM
Anon 12:42 - sure, these are absolute rock-bottom prices assuming the cheapest fixtures possible. I agree with brownstoner that on average, you could easily spend $100k or even $200k. Also, it's up to your co-op whether you need to file this job with the city (which would add to costs).
Posted by: guest at August 12, 2007 3:48 PM
Thanks - had in mind $300K area not taking into account the cost of architect because understand that board will make me file papers and get all the permits.
Posted by: cobble at August 12, 2007 4:27 PM
If OP has 300k+fees to spend (!!!) for this type of job, (s)he's way out of your league, 12:42 (and mine, I spend a little more than that.)
So my question to OP is what information are you looking for? At those prices, sky's the limit (this is not envy as I can see various commentators sharpening their pens.)
Posted by: guest at August 12, 2007 5:31 PM
We're currently doing a 4 bedroom (nearly a gut, in Manhattan) and it's costing just about $300k (with medium/high finishes, but nothing extraordinary). So that should be an adequate budget for you. Ours has only one bathroom being touched (2 others recently renovated for about $25k).
Posted by: spanishfish at August 12, 2007 7:26 PM
I'm anon 12:42 - 4 years ago, I did a combination of 2 apartments in Manhattan. We needed to file with the city, architect, the whole works. We gutted the 2 apartments. Took down all internal walls, substantial plumbing changes, 2 new bathrooms, 1 new kitchen (semi-custom with high-end appliances), all new electrical (plus 2 new switch panels), new closets, new subfloor (as there was just concrete underneath) and floors. Total square footage was approx. 1400 sqft and total cost was $170k with a medium-end contractor (including architect fees & expediter fees, etc).
It sounds like the scope of your renovation is not as sweeping, hence my estimates for your costs.
Posted by: guest at August 12, 2007 9:12 PM
call me for a real estimate
646 331 7293
jimmy
Posted by: guest at August 13, 2007 12:19 AM
I can recommend someone terrific for you to talk to. He's been in this business for over 23 years and has been featured in Arch. Digest numerous times. He is honest in his estimates and works with you to get the job you want done. His name is Alex and can be reached at 917-494-0082. He also has a website (which needs some work, but it does show great pics of his work) at www.alexfradkoff.com
Hope this helps...
Posted by: walker247 at August 13, 2007 12:43 PM
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