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Updated over 4 years ago on . Most recent reply

Jay Shawn's profile image
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Jay Shawn
  • Member since Jun 16, 2020
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Jay Shawn's profile image
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Jay Shawn
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Jay Shawn
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Land & New Construction

New Multifamily Development in Philadelphia

Jay Shawn
Posted

Hi, I am currently underwriting a 50 unit multifamily project in Philadelphia, PA. Can anyone advise on an average cost of ground-up construction in Philly?

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Sean McKenna's profile image
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Sean McKenna
  • from Philadelphia, Pennsylvania
  • Member since Jun 30, 2015
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Sean McKenna's profile image
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Sean McKenna
  • from Philadelphia, Pennsylvania
  • Member since Jun 30, 2015
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Sean McKenna
  • Philadelphia, PA
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Sean McKenna
  • Philadelphia, PA
Replied

Lots of variables there, Jay. Chiefly build height (steel vs stick), location, prevailing wage, etc. Between $145-$175 is probably safe. 

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