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Does anyone know how much it would cost to gut renovate a 5000sf townhouse on the UWS?
There are a ton of factors, but you could VERY roughly estimate at around 400/SF, which puts you at around $2mil. Depending on some of the factors below you could come in cheaper. But then it is always very easy to spend more.
-roof in good condition?
-existing mechanical system, brand new mechanical system?
-all new plumbing and electrical throughout
-all new windows?
-facade and rear landscaping work?
-new stairs? relocating stairs openings?
-level of finishes
If it is a listing you are considering and can email floor plans that would be helpful. Then I can discuss with some contractors and I would be happy to come take a look. Please feel free to call or email.
1) Structural work - you will save a lot if you can keep your subfloors at least, and all your joists.
2) A new roof is not expensive - would do it, unless roof is under 5 years old.
3) New mechanicals, new plumbing is a given. If you are replacing the fixtures, might as well do all new plumbing stack.
4) Electricals - all new.
5) Windows - all new.
6) Facade & repointing can range from 20k to 100k. Depends on what needs to be done, and what crew you hire.
7) New stairs. Generally, I'm a fan of keeping the old and repairing what you have. There is a reason the stairs were designed to be where they were, and I've not liked ANY of the brand-new staircases I've seen in a gut-renovated TH.
8) Level of finishes - depends on how picky you get with millwork and the like.
You can get a gut reno for 200, 300, 400, 500 /sqft. A quote is meaningless without more detail and without knowing how involved you want to get and what "high end" means to you.
You can even do a gut renovation for $100 sq ft but it would be a low budget project.
We renovated Townhouse on the Upper West Side +- 4,700sf about 4 years ago for 900k construction + 180k fixtures, Architectural fee 60k
Totals to 1140k it was cost efficient but good quality project, custom cabinetry, waterworks plumbing fixtures, urban archeology tiles, we saved windows, staircase, minor work on the exterior, new boiler new HVAC on 3 floors, finished basement email me if you need recommendations email@example.com
Wow, that's gonna be expensive, I sure hope you are getting the town home for little to nothing. If you can afford it, go for it but be very careful and get several bids from contractors. and don't pay all up front, only pay in full at the end of the job when you're are satisfied