Approx Cost per sf for 2fam to 1 fam Gut Reno?
My husband and i have an offer in for a 16×40 home in brooklyn that needs a gut renovation. It is an english basement + 2 floors. The basement is currently unfinished. We plan to gut & renovate. We will put in new building systems (central air, new elec, probably new plumbing) and do some…
My husband and i have an offer in for a 16×40 home in brooklyn that needs a gut renovation. It is an english basement + 2 floors. The basement is currently unfinished. We plan to gut & renovate. We will put in new building systems (central air, new elec, probably new plumbing) and do some structural work. The place is structurally sound, but we want to remove some load bearing walls so we will have to engineer some new beams/columns. We also want to relocate the back door. The windows & the rest of the exterior will remain, roof is in good shape.
What can we afford to do for 120k? Is $100/sf a reasonable amount to assume? Do you think that includes FF&E. We were thinking that we could do the top 2 floors and the lowest floor would remain unfinished but perhaps roughed in for future fit out.
I should disclose that i am actually an architect however i do large scale commercial work so I dont have experience with residential costs. we’re actually considering hiring an architect who specializes in residential just to give me some advice!
thanks!
Going through a similar project now (central a/c, some electrical, some plumbing, some structural/facade). I would agree with bullfrog. At least double your psf number, before any FF&E and before any carrying costs.
$200-$225/sf is a more realistic figure based on your description.
Gah. Apparently I DID say the top 2 floors.
I realized that I forgot to mention someone important. We were going to keep the basement unfinished…..so we were only renovating the top 2 floors.
I suppose it doesn’t matter much that this renovation would be in Brooklyn and not manhattan?
All I can tell you is a whole house electrical upgrade is probably $12,000. We paid $15,000 for three floors plus a cellar and the house is 20×45. We are trying to restore, not renovate, so I don’t know anything about gutting or moving walls or central air, but people often give $100k per floor as a ballpark.
120K would only work with no permits, Home Depot fixtures and rental grade appliances. If you want to live well you need at least double that. For something nice and done legally you will burn 25K for your main bathroom and 40K for a kitchen with cabinets, decent appliances and 20 outlets installed by a licensed electrician. The remaining 55K will cover moving the load bearing walls. You will need another 150K to gut and replace the remaining rooms and electrical. Add 50K for central air and another 50K if you want to add a kitchen and bath to the basement.
I agree with aabram & sundial. The estimate seems low. Does the 120k budget includes dob building fees, asbestos report, landmark (if required), house number, technical reports, etc..?
Oscar Mauricio, R.A.
omdarc@gmail.com
Based on my residential experience $100/SF is extremely low, even excluding FF&E. It might be possible, but I think it unlikely given your wish list. As you said, you may want to hire a residential architect, perhaps just on a consultant basis. You’re welcome to send me an email at: anni.abramowicz@a2architects.net
Anna Abramowicz R.A. N.C.A.R.B. A.I.A.
96 Fifth Avenue New York NY 10011
t. 212 929 6439 f. 212 656 1623
w. http://a2architects.com/