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Re: Does anyone know how much it costs to gut renovate a building downtown?
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Low end rennovation $250k. High end $500k

Posted on: 2016/5/6 7:04
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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about tree fiddy.

Posted on: 2016/5/6 3:17
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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corybraiterman wrote:
It depends completely on what needs to be done. Are you rewiring? Tearing out the plumbing? Putting up all new sheet rock throughout? What are you putting in it? Higher end products or cheap stuff?

Way too few details to give you a good answer


Please re-read my post. I don't need or want to do anything. This is for my homeowner's insurance policy. A ballpark figure is needed, cost per sq foot.

Posted on: 2016/5/6 2:42
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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It depends completely on what needs to be done. Are you rewiring? Tearing out the plumbing? Putting up all new sheet rock throughout? What are you putting in it? Higher end products or cheap stuff?

Way too few details to give you a good answer

Posted on: 2016/5/5 23:02
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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I'm updating my insurance policies and need to determine the replacement cost (not land, etc).

For a brownstone row house downtown what is the cost per square foot for a gut renovation? Two family if that makes any difference - standard quality nothing crazy. Not much left of historical value. I've seen prices ranging from $100 per sq foot to $250+.

Also if you haven't looked at this for awhile - a good thing to re-evaluate every 5 years or so.

Posted on: 2016/5/5 16:20
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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bluehorse wrote:
You guys make it sound like they're buying up everything. Not being sarcastic. Just want to know.


If you search, you will come to the subject

Australians investors buying up Jersey City housing
http://jclist.com/modules/newbb/viewtopic.php?topic_id=28586

Posted on: 2015/5/1 16:02
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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Yorkster, thanks. That's really helpful. Due to low inventory, we may not have a choice but go the renovation route.

Sommerman, who exactly are these Australians I keep hearing about? Is there a name I can look up? You guys make it sound like they're buying up everything. Not being sarcastic. Just want to know.

Posted on: 2015/5/1 15:05
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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bluehorse wrote:
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eblanco wrote:
It's a big range. How much square footage, how many kitches, how many baths are we talking? What level of trim? What level of appliances?

$60k can be spent on an entire house or an entire kitchen.



What is the range? I really have no idea. Definitely not interested in the ultra high end, but would like everything to be solid and long lasting -- stainless steel and stone but doesn't need to be designer brands. Haven't gotten to point of deciding on trim yet. I don't mean to be vague, but we're only in the stage of figuring out what we can afford. For example, if we bought a four story brownstone, that is currently a four family rental, how much would it costs to turn it into an upgraded two family?


36 Erie sold for about 665K about 18 months ago to the Australians. It is being totally gutted and turned into a one family. My guess is about 400K for the high-end renovation (including a deck off parlor floor). Trim, stainless steel designer blah blah are/is bupkes (??). Heating, plumbing, central air cost. Windows facing the street are a min. of $2000 a piece. Taxes will no doubt go up - they are probably about 8K now. To paraphrase an old saying about yachts - If you have to ask ....

Posted on: 2015/5/1 13:48
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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bluehorse wrote:
A friend and I were trying to figure out whether it's better to buy a place already renovated or needs a gut renovation. Or maybe even buy a lot and build from scratch? We would like either two small single families or a large two family building.

Thanks.


A fair estimate is $300K minimum. I'm currently renovating my top 2 floors (not a complete gut) and after architect, permits, contractor, etc. it is costing approximately $150K. I have 2 more floors (which the kitchen is involved) so you can do the math. Of course, there are multiple variables (sq footage, floors, quality of fixtures, etc.) that can increase that cost dramatically.

The advantages of doing it yourself is that you get what you want whereas if you buy already renovated, you'll pay a premium for someone else's vision. That beings said, it is not a pleasant experience to go through a renovation and time consuming so that needs to be put into your decision.

Posted on: 2015/5/1 13:37
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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eblanco wrote:
It's a big range. How much square footage, how many kitches, how many baths are we talking? What level of trim? What level of appliances?

$60k can be spent on an entire house or an entire kitchen.



What is the range? I really have no idea. Definitely not interested in the ultra high end, but would like everything to be solid and long lasting -- stainless steel and stone but doesn't need to be designer brands. Haven't gotten to point of deciding on trim yet. I don't mean to be vague, but we're only in the stage of figuring out what we can afford. For example, if we bought a four story brownstone, that is currently a four family rental, how much would it costs to turn it into an upgraded two family?

Posted on: 2015/5/1 13:21
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Re: Does anyone know how much it costs to gut renovate a building downtown?
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It's a big range. How much square footage, how many kitchens, how many baths are we talking? What level of trim? What level of appliances?

$60k can be spent on an entire house or an entire kitchen.

Posted on: 2015/5/1 12:54
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Does anyone know how much it costs to gut renovate a building downtown?
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A friend and I were trying to figure out whether it's better to buy a place already renovated or needs a gut renovation. Or maybe even buy a lot and build from scratch? We would like either two small single families or a large two family building.

Thanks.

Posted on: 2015/5/1 12:25
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