50 Unit Multifamily Development Budget

[Caleb Anonimo]

Hi everyone! I just acquired a site entitled for a 50-unit multifamily project. I am planning on building 25 studios, 12 one-beds, and 13 two-beds across 40,000 sf total, so three floors of residential on a concrete parking podium (11,000 sf net residential per floor assuming 16.5% loss factor). The project will be about in an affluent suburb 40 miles from Boston. Does my budget look wrong to anyone?