Construction cost per square foot in 2018

anyone has first hand experience about construction cost per square foot in 2018 for a ground up 25×50 buiding, 4 stories with a basement? Total average cost is fine as well. Thank you.

mark10023

in General Discussion 6 years and 10 months ago

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resident2 | 6 years and 10 months ago

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And also take into account how much the Real Estate Tax assessment is going to be on your new construction. Will the new RE Tax bill so much that no one can afford it or would want it?

jimhillra | 6 years and 10 months ago

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I would start at $350 or so per square foot. Could be less or more depending upon amount of square footage, level of finishes, etc. This would not include underpinning or other specialty items.

mark10023 | 6 years and 10 months ago

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stuyHeights, what do you think of the cost estimate, is it close to reality?

mark10023 | 6 years and 10 months ago

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yes, for the current project, we will build ground up. did not find a good deal for conversion.

stuyheights | 6 years and 10 months ago

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Did you find a location to build these condos yet Hui? No more condo conversion? Your building ground up this week?

mark10023 | 6 years and 10 months ago

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thank you. So 5000 sqare feet above grade and 1250 square feet basement will cost 2.5 million on construction and soft cost. do other people out there with real experience agree?

newtomehouse | 6 years and 10 months ago

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If you are coming to brownstoner to gauge costs you likely shouldn’t be undertaking a ground up construction project unless you have a hell of a team. That said you are likely looking at 2.5 million once all is said in done between construction and soft costs. If you start getting fancy with finishes that number can quickly go up from there.

mark10023 | 6 years and 10 months ago

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yes. Like to get an estimate for budgeting.

stuyheights | 6 years and 10 months ago

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For the condos you are building?