All Forum Posts by: Jared W Smith

He doesn't own the plan to copyright them. They aren't his. Copyright goes to the designer/architect. See @Carini Rochester post. 

I had a pretty in-depth project involving SROs in Brooklyn a short while ago. The owner ended up selling it as-is because of the long process. It's a complex route to get the SRO status off the property via a conversion. I hope you have the property empty which is crucial. And also proof that tenants were not harassed when they left is a requirement to the conversion. DM me to chat and exchange contact info. 

-Jared W. Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

Completely different type of investment. Yes, you can sell it when you want. But it's far less control than a condo. For one, typically the board has to approve who ever buys it and even the tenant of sublet.   

Hello @Danny Johnson

Welcome to the forum! Happy to join your team as the Architect component. I work throughout Westchester County and as far North as Orange County, South to NYC and East to Fairfield CT. Working on a few developments as we speak. Wrapped up a project in Mt. Vernon last year and have another in the permit phase now. DM to exchange contact info. 

-Jared W. Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

Yes, many things needs to be thought out.

Reach out when you are ready. DM me to exchange contact info. 

Other Architects with this in mind chimed in on this chat.

https://www.biggerpockets.com/forums/44/topics/1135087-archi...

Your first question is to ask the City/County, what is the intent behind needing the floor plan. Knowing this will inform you of who you need to hire to complete the task. They could be looking at the space to check legal egress, ceiling heights, window location and size, fire separation between units/hazardous areas (like boiler rooms, etc.) or a whole host of other things. A drafter or app can get it together but you may need an Architect or Engineer if it's a life safety review/submission. 

-Jared W. Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

If this Contractor is new and doesn't have their own contracts, the AIA ones will be very complicated. Those are typically meant for larger projects and with well versed Contractors. It really depends on the scope of work too.  

-Jared W. Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)

Hello @Roberto Rohann

I appreciate the post as I am a native Westchester County resident with my office based in Yonkers so I know the City and surrounding areas well. I work with single and multi-family Owners & investors to rehab their properties for various exit strategies. I've dealt with the existing rehab as well as the new lot new development route. I am in the preliminary stages on one in Yonkers as we speak. However, the benefit to the Owner is they already own the lot as it's adjacent to their home. So the purchase of the home included the empty lot. So they only have to factor the build cost and other soft cost.

The problem at hand with a new build is finding the land, the cost of the land, clearing/prepping the land and bringing utilities in. This all comes at a cost. You want a desirable location plus with minimal sloping/grading issues and minimal trees. This will be difficult to find for cheap. 

My most recent build cost I put together for a house build on an empty lot was at $300/SF as base cost. This will vary based on foundation type and cost and ALL finishes- interior and exterior. 

Also, the builder is going to need periodic payment draws as the project progresses. Not sure of your avenue with questioning, when you (or someone) has to carry the construction loan. Additionally, you will have carrying cost from the purchase of land, approval of permits and time to construct.

DM me if you are looking for the necessary due diligence services with lot(s) in mind for the build. 

-Jared W. Smith, RA - Principal Architect at Architect Owl PLLC (Licensed in NY & CT)