a 45mn multi-family development project

[Chris W.]

For a 45mn multi-family development project (mid-rise, wrap), urban development.

Are the following cost reasonable?

- Predevelopment cost: 750K

- Total soft costs: 4mn

- Developer Fee: 1.35mn or 3% of the total Development cost

- Loan Fee: 220K

- Title and Closing: 250K

On the operating side, is Property Management Fee being 3% of EGI reasonable?

Thanks for sharing the experiences and information.