Cost of this gut renovation?

Architecture, planning, filings, approvals etc. 20k-30k
Finished materials, tiles, fixtures finishes 80-100k
For gut construction 150k – 280k
Including new flooring with soundproofing (if required), replacement of plumbing branch lines, electrical, custom kitchen, and reasonable amount of built-ins, new doors and millwork, but saving windows and HVAC
Of course numbers could vary based on a lot’s of decisions
Give us a call for more information 212 685 2715 ARCHIVES id

We do these type of combo/gut renovations often. It really depends on what you intend on salvaging from the current build. If you are completely demolishing everything and rebuilding everything new, I would start with $250 per sq ft. Keeping finished bathrooms, kitchen, flooring, etc. would drop that number down. Feel free to contact me if you have any more questions.

Best,
Matt
mhm@studiolabdesign.com

3brsearch,

Can you tell us what your expectations are?

Low end renovations are around $100.00 sq ft
Med are around $200.00 sq. ft
High end $ 300 plus

I have done apartments where my clients were on a budget for $150 sq ft and you would never know and then there are some people that want everything custom which is great but costs more.

I would say at least my typical client would spend roughly $300-400k on an apartment that size but again it could be a lot less or more depending on your budget

If you have any questions feel free to reach out to me. www,primerenovationsnyc.com

Jeff

>3BRsearch - Have you looked at the sales history in the building? VERY few sales anywhere NEAR $1M, and just a few over. The last combo apartment, already combined and renovated, closed for just over $1.3M in 2010.

FWIW, it seems as if you're looking at $1.8M or more to gut/combine these apartments. IMHO - way overpriced and bad idea in that building.

Thank you all! Very helpful!

ph41 - Yeah, we saw that. Frankly, I'm not sure where the seller/broker is coming up with these numbers. Do they think 2010 was too far back to be a real comp?

If you need an architect for the job please visit www.victoriabenatar.com. If you like our work do not hesitate in contacting us.
We have experience in similar projects and will work with you and your budget. It is a great property and we can help you make it even better.

Actually, the 2BR 2007 sponsor sale, at the peak, is the one the broker is trying to dance around. That, and the fact that the studio has been on the market since 2007, for rent, for sale, they can't get rid of it. They've never combined it, and in their ads for rent they actually say that the kitchen and baths need renovating (and that's for a studio RENTAL!!).

At a really, really, really good price ($1.1M-$1.2) this might make sense.

It would have been a lot nicer if they'd bought the hallway space between the two apartments, making a nice \entry foyer.

Op, I would not do high end Reno on 27th and 2nd. You would never get your money back. Also lay out changes are very costly.

You might want to make sure you can move the kitchen with the living room. Some boards do not allow it.

Wow, I never even knew you could buy hallway space.

Hmm, I thought Gramercy was generally a desired area. This apt is on Third Ave, not Second, which understandably would be less desirable. The broker for another apt in the area told me there were "only two" other 3brs in the area for sale... right...

who told you that is gramercy area? kips bay.

Re: hallway space - in a coop you can buy the space (if the board approves) but then you also get allocated additional shares which increases your maintenance.

And I do think that that building is generally considered Gramercy, even though not that near the park

2nd Avenue in that area is more Kips Bay.

headline for se listing for this unit

"Building: The Victoria House at 200 East 27th Street in Kips Bay"

how does this magically become gramercy park?

You are looking at an area that is 70% post-college kids and 30% old people - two groups that do not value high end renovations. If you want to live here forever, invest away, but I would think in this part of the neighborhood it would be tough to get much of a renovation premium on resale.

whats on the other side of the front door? is it possible to acquire a portion of the hallway and turn the studio kitchen into a walkin so there is doble walkin for the master bedroom in the old studio?

only problem is some banks dont do combinations, we did a combination in 2008 with citibank as out bank chase didnt do them....in 2012 we did another combination guess what citibank no longer do them and chase does....go figure.