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Total gut 3-family

Started by ez3nchal_1971338
over 8 years ago
Posts: 0
Member since: May 2016
Discussion about
Is 150k a realistic amount for a total gut on a 3-family 2800 sq. ft. home in Brooklyn, NY
Response by 30yrs_RE_20_in_REO
over 8 years ago
Posts: 9880
Member since: Mar 2009

No.

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Response by Primer05
over 8 years ago
Posts: 2103
Member since: Jul 2009

It's not even close. The cheapest you could expect it to be is 1.2 mil. Maybe you meant to say is 150k realistic for a architect?

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Response by 300_mercer
over 8 years ago
Posts: 10577
Member since: Feb 2007

What if it is a 3 family house in sheepshead bay and gut Reno is just mostly new every thing but budget: stock floors $4 per sq ft, basic stainless steel appliances, basic tiles in bathroom etc? I had gotten an estimate from a Staten Island based architect for his services of 20k. Functional every thing with not much design or fine details.

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Response by InmanParkExPat
over 8 years ago
Posts: 8
Member since: Jun 2016

If you're renovating as a primary residence (rather than as an investment property), you can assume $100/ft2. If you discover no major issues through the renovation process, $280k ought to be a reasonable estimate.

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Response by Primer05
over 8 years ago
Posts: 2103
Member since: Jul 2009

If its a gut renovation you could expect to spend at least $300 sq ft. Thats with all new plumbing and electric.

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Response by 30yrs_RE_20_in_REO
over 8 years ago
Posts: 9880
Member since: Mar 2009

3 family home means at least 3 bathrooms and 3 kitchens. I know builders in Queens who are doing from the ground up 2 family's fin the $400K-$600k range for lower end finishes, but $150K is barely going to get new kitchens and baths these days.

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