The current cost per sq ft in NYC to gut and remodel a home?

[Mike Sarhan]

Hi BP Community

What are the current average NYC renovations cost per sq ft? Whether you have renovated an entire New York City brownstone or a studio apartment, I understand the cost is based on the square footage of the space being renovated and there are many variables. Please share the current average quotes you're getting from your contractors.

[Eric Hajdu]

I am in the process of buying a townhouse in Cobble Hill Brooklyn, and have been putting together a budget for a gut/addition of square footage, and I'm at right about $350 psf.  As Alexander noted in his post, so much if it depends on the property your renovating and the logistics.  For example, you can park a dumpster in front of a townhouse on a residential street, while gutting a co-op could literally take months of planning/approvals.

Best of luck in your future project!