Real Estate Agent · Brooklyn, NY · Member since 2014 · 4 posts · 2 votes
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.
Real Estate Agent · New York City · Member since 2020 · 819 posts · 641 votes
4y
It really depends on the quality of finishes and quality of labor as well as how strict "oversight" is.
Is this a co-op in Manhattan that is very fee heavy, requires large insurance policies and a review by their architect in a landmarked district? Or a large townhouse in Brooklyn where you can value engineer a bit more?
Developer · Brooklyn NY · Member since 2019 · 68 posts · 91 votes
4y
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.