Analyzing Luxury Units

[Edward C.]

Looking at working a deal to convert a commercial manufacturing building in to a 25 unit Luxury Apartment complex.

To just get started on the numbers would anyone have an idea of sq ft cost to make this happen for 1,000 to 2,000 sq ft apartments in the New England area that would rent for $3,000 to $5,000 a month?

It’s currently an open floor plane on all floors and would have to start building the units from scratch. Building construction is concrete exterior.

Thank you for any helpful suggestions.

[Karen Margrave]

@Edward C.  There's no way anybody can accurately give you a figure without seeing the building, knowing the local code, and having a structural engineer do some type of consultation at the very least. You're talking about putting in a huge amount of plumbing, electrical, etc. How old is the building? How thick are the walls? What's the integrity of the concrete? It may be possible, or it may be the building needs to be torn down and do new construction from the ground up. Maybe you can post some pics to give us a better idea of what you're talking about.