How much does an elevator cost for a 5 story loft building in Soho or Tribeca? Assume 5 floors of 2000 square feet each with average ceiling heights between 14-16ft. Assume you replacing an old elevator with a brand new elevator. Thanks!

I don't think you're going to get a useful number out of this -- too many variables in play. Are you looking to clear out all of the existing equipment and start from scratch? Or just upgrade motor, controls, interior, and perhaps some of the hoistway equipment? (And why would the sqft of each floor make any difference?)

you are also missing a few very important components of the "loft elevator". size and weight it can transport. that can sway the price significantly.

At least $200K.

Even with Matt's union labor, $200K is a lot for a building with pre existing shaft and setup.
You have roughly 75 feet of elevation and a 2000 to 5000 lb max load.
More like "At Most" $200K.

Likely between $50K and $150K. Too many variables.

"(And why would the sqft of each floor make any difference?) "

Presumably that number is proportional to the population per floor, and thus the required size of the elevator and the frequency at which it will be used.

I don't remember the exact numbers, but a friend did this a few years ago in a Soho loft building. Changed out a manual elevator. I recall it being more like $250-300k, and that was probably 2004 or 2005. None of the setup was reusable, had to replace the doors on all floors, rails, car, motor, wire call buttons to the floors, etc., etc.

We are about to remodel the cab in our elevator. That alone (new floor, ceiling, walls, call button panel, interior door skins) all in is going to be about $40K.

Found this useful article;
http://www.nytimes.com/2008/11/23/realestate/23cside.html

"In a six-story building, a standard elevator modernization (frequently involving replacement of the cab rather than remodeling it) costs about $100,000, including consultant fees,said Joseph Caracappa, an elevator consultant who is the vice president of the Sierra Consulting Group in Manhasset, L.I."
"A project in a 6- to 12-story building generally costs around $125,000, while anything taller will require roughly $150,000 to $175,000"
"Mr. Caracappa, who consulted on my building’s project, said that these figures assume that some components won’t need changing. Our 89-year-old drum-hoisted elevator, being well past its sell-by date, needed everything, which is why our job cost substantially more. Also, we spent about $20,000 on the interior finishes, on the higher side of a range from $7,500 to $30,000."

Can always call Mr.Caracappa for an estimate.

Of course tell him your reference is this Times article so he doesnt give the $300K estimate.

200k would be a steal. The controller (machine that moves it up/down) alone will 100k+. Assuming its old, when you put in a new controller then you have to upgrade the car controls to be up to firecode is gonna be 50k. Then you'll need to upgrade each floor to be compliant as well etc etc...elevators are very expensive. The killer is that once you touch old equipment it triggers new law requirements.

Well the article's writer had a more expensive job;
"Mr. Caracappa, who consulted on my building’s project, said that these figures assume that some components won’t need changing. Our 89-year-old drum-hoisted elevator, being well past its sell-by date, needed everything, which is why our job cost substantially more. Also, we spent about $20,000 on the interior finishes, on the higher side of a range from $7,500 to $30,000."

But her building was 9 stories.
While "considerably more" could mean alot, it doesnt mean "double" where the 6 to 9 story is quoted around $125K. Of course every single project is unique. And the upgrade of each floor is considerable as well.
And who knows in Soho what you'll encounter in Soho with lead, asbestos, permits and blah blah blah.

And before someone asks how I know her building is 9 stories......
I acrised her name and found out what building she lives in. :)
(hint; leave out the maiden name)

elevators are suprisingly cheap.
It's the construction of the shaft and instillation that's shockingly expensive.
Needless to say, it can have a BIG impact to the value of a property.

in your case it might no be so bad.

You also need to factor in the ongoing cost -- for a tiny eleveator in our triplex the "maintenance and inspection" contract is $5K per year. Elevator inspection requirements were increased significantly in 2008.