How much to reno this space?

You're joking, right? If you really are looking at this apartment, why not just ask your architect? I am sure any architect would be more than happy to do a spec estimate for you.

Actually, you should just have spent a little more, and bought the penthouse - already fully renovated.

thanks for the advice. i am considering a lot of different choices and was just wondering what the community thought.

You could ask the people who just sold this place -- http://streeteasy.com/nyc/sale/361450-coop-1172-park-avenue-carnegie-hill-new-york -- and then double it, as it's about half the size.

The numbers thrown out here in response to similar queries have run from $100-to-infinite per square foot, depending on level of finish, which determines the amount of labor.

84th.. don't go Control4 on a place like that. Go Crestron/amx or keep it much simpler. You'd be amazed at the RF problems all the systems are having these days. Spend the cash to get it done right or it will never work well.

probably 2mm but what's the point when there are so many non wrecks on now, (south of east harlem issues...)

in my experience it would be 500K or more depending on how high end the kitchen and the windows where.

thanks uws and jt. why the huge range in guesses? What kind of finishes would a 500k renovation be compared to a 2mm one? obviously i don't want gold plated walls and marbled floors, just what i mentioned above (new floors, windows moldings etc.)

thanks!

every square inch of those walls in this unit is ripped up with nails and screws from endless hangings. not a typical skim coat job. the wood floors are stained and trashed from water damage from pipes and radiators, more than refin here..but replacement required as matching will be all but impossible if you intend for any of it to show. the windows do require replacing. all bathrooms, fixtures, and probably underlying plumbing need replacing. the kitchen is tiny so you'll be moving walls, some are structural so regardless, a sub-par outcome. you'll have to do some amazing things with windows to mitigate the 70% brick wall views. overpriced for back/side st. apartment for harlem on a noisy bus line/crosstown artery. you can do better.

You have 6 bathrooms here--that's a minimum of $200K-$300K after gutting, replumbing and wiring and putting in 1/2 way decent finishes. Kitchen: $ 75,000+ easily. Over 30 windows need replacing!?! Say $30,000+. Demo and replace few thousand sq/ft of floor? $50K+? $100K+? New wiring will surely be needed throughout. Electricians are expensive: $100,000. Skim coat how many rooms? It can be $10K per room by the time you are done with paint. This reno is $1MM in a snap and I could see it cruising up to $2MM by the time you do it right. Architect is going to be $100,000+.

All this said, if you have the money and won't be all stressed out over it, it could be A LOT of fun to make this place great. But man, you are really up for over a year of your life and endless massive aggravation being devoted to this?

First of all, thank you! But wow-- I had no idea this could be such a hassle. Considering the "distressed" nature of the property, would any bargain that I might get on the sale price be enough to make doing the costly renovation work worth it? Basically, if I did do a 2mm renovation, what kind of increase would I see in the resale value? Or am I better off looking at smaller but already renovated apartments?

Sorry for all the questions!

Of course there's a price for the place that would make it worth it. Everything has a price. But my guess is that unless you completely mug the seller it is going to be tough to recover this type of investment in a renovation. And why go through all this just to resell. As always though, comps tell the story. I just have no idea what they are. This price point is WAY above my humble pay grade.

I'm wondering how much work the place really needs. (How much you want is another story.) Per the DoB the combo was done in 1995, and the architect's website (Weil Friedman) calls it a phased combo/renovation. Windows and kitchen look as if they were done back then, so how bad could they be?

Questions to ask yourself:

1) Is 1158 Fifth a good enough building to warrant that big a reno? We're not talking 740 Park here.
2) Reno costs - depends on how tough the board is, how big a role you want to play, etc.
3) Relates back to the 1st question - how many people are looking for a big cobbled-together place with
less than ideal flow in a building like 1158?

And I forgot the main point - you don't have a park view, which is a hard cap on how much you can make.

Not to be snarky, but if you can afford to put the required 60% down on a 6mm apt. and have the cash for a 1mm+ reno, you should be able to afford professional advice

the floorplan needs tweeking and a major renovation.... $1MM+.

with this price and no views, it's just asking for a major headache.

I think $6mm is a bubble price & by putting reno $ in (an estimated $2mm at that), you are gilding an already existing white elephant.

w84th i am just finishing a renovation of my place on the uws. it was a got out for 170K but needed everything new. the space is less then 1/2 of yous but its still pretty decent size classic 6. if you want to see what 500K renovation could get you e-mail me and i can show you my place. renovationmaven@gmail.com

@w84th. I see the apt is in contract...If you require free estimating with no obligation, my contractor will gladly assist you. drop me a reply