NYC 30-floor Development - Cost Estimates and More

[Christopher Cruz]

Hi Guys,

I'm putting together a preliminary redevelopment model and I need some help from any experienced developers/builders in the NYC area. Any and all feedback/insight and direction is much appreciated.

Redevelopment project: Residential Rentals, ground floor commercial space, community facility.

30 floors

~190,000 buildable SF

Questions:

Experienced developers - what is the avg ratio for residential buildings of rentable SF to buildable SF. i.e 150,000/195,000

Cost of Construction: Residential $/PSF, Commercial $/PSF, Community Facility $/PSF.

is there a general rule of thumb for unit mix ratio? i.e 5x(1BR):10x(2BR):5x(3BR). I realize it is ultimately up to developers but is there an ideal mix?

How long (in months) will a build of 30-floor residential building take? Nothing too detailed, your 'average' NYC residential building. Foundation is already in place.

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I know this is very vague and missing a ton of detail needed to answer these questions with accuracy. I'm looking for a general ball park and some guidance to get this model going. At the end of the day, these numbers will be to-the-T.

Thanks,

-Chris