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All Forum Posts by: Maya Cohen

Maya Cohen has started 1 posts and replied 2 times.

Quote from @Stuart Udis:

Land cost is only a small component. Of course you don't want to over pay for land, but site conditions and construction type will dictate costs....is there underpinning? entirely stick frame and if stick frame are you using TJI joists, what kind of structural sheathing/fire rating requirements are necessary? How is access for deliveries? can you store dumpsters on site? Are there electrical lines that interfere with the use of a  boom truck? If multi-family is this 100 studios in a 50,000 SF building or 30 3 bedroom unit in the same square footage. The 30 unit building will cost significantly less to build. This is why construction is so difficult.... most projects have varying site characteristics and designs. Most who struggle with construction approach ground up construction using a generic cost per sq ft analysis which often backfires. 

Great questions — this is a small project, a single detached lot that could take up to 3-4 units max but is currently zoned for single family. Will mostly like be a SFH.

There are no existing structures on the land—it’s a vacant lot. 

I've been searching for up-to-date estimates of the cost per sq ft for new construction of SFH & MFH in Philadelphia in 2025.

For a land cost of $150k, how would you think about how much the completed home would need to sell for to make that land cost worth it?

Would love to hear from folks with knowledge of the current market! The construction project in question would be in West Philly, if that's helpful. Thanks in advance for your insight!