It costs a lot to build or remodel a building or house. so here’s a Reality Check, with actual sampling of construction costs between 2014 and 2024 based on our office bids and contracts. So for those trying to project “square foot” costs-be careful.
But we do have some hacks you should know about:
For average residential construction in Lower Westchester County (a suburb of New York City), we’re using $450/sf as an average multiplier with higher end about $550/sf. As you can guess, the multiplier for Kitchens and Bathrooms is quite different than used for Garages and Porches.
We have updated this blog-post in light of the substantial cost increases during the past 3 years. (Nov 2024 update) We’ve been quite surprised by the bids received during the past year, many coming in 15%, and more above forecasts. Is it the material cost increases due to the slowing supply chain hiccups caused by the pandemic aftermath? Labor shortages? Computer chip shortages? To some degree. Is there some profiteering based on demand? To some degree. Are there some old-fashioned market factors -such as interest rates, the remodeling frenzy due to remote work demands? To some degree. So when you add up all the partial factors, you have a major spike unlike any we have experienced in a 3-year period.
Comparing and predicting costs for construction is difficult because there are so many variables. But here is a snapshot of some of our projects:
3 x 3 bedroom town homes 1750 sf each / Bronxville NY $2,400,000 (2024)
Residential gut renovation 1400 sf and 1600 sf addition / Hastings on Hudson $830,000 (2024)
Ice Cream store 800 sf / Mamaroneck NY $120,000 (2024)
Greenwich, Ct | New House
New 4500 sf waterfront house / Greenwich, Ct $1.900,000 (2023)
5000 sf commercial building / Elmsford, NY : $ 1,400,000 (2023)
Basement remodel 721 sf / Rye, NY $190,000 (2022)
Residential 2400 sf full house gut / Scarsdale NY $440,000 (2018)
35′ Free form Pool and jacuzzi $140,000 and 500 sf Pool House -Garage $280,000 / Pelham NY (2023)
Restore 12 Story Facade / NYC / $275,000 (2017)
Remodel Master Bedroom Suite / Rye NY: $85,000 (2018)
Medical offices / 2300 sf / Scarsdale, NY: $325,000 (2017)
Single family residential house /1100 sf expansion & 2400 sf remodel / Rye, NY : $470,000 (2019)
Single Family residential house / 1300 sf expansion, 2600 sf remodel / Rye, NY: $710,000 (2023)
Facade Restoration for 6 Story 60 unit multi family / Yonkers, NY: $690,000 (2023)
Apartment building / remodel entrance & stair & lobby: $95,000 (2017)
Single family residential house / 2600 sf expansion / 900 sf deck / Bedford NY: $1,100,000. (2022)
1 BR apartment gut remodeling / 730 sf /Bronxville, NY: $140,000 (2020)
2100 sf addition /Rye NY $750,000 (2022)
Full gut renovation / 3200 sf / Old Farm House, Katonah NY $480,000 (2019)
6′ high retaining walls & masonry stairs reconstruction/600 sf / Scarsdale, NY: $135,000 (2018)
4 multi family bldgs-23 units total / New York, NY: $6,800,000 (2018)
Landscape improvements for 1.8 acre parcel / Somers NY: patios, driveway, drainage, entrance gates, planting : $70,000 (2019)
Wood deck / 420 sf / Scarsdale, NY : $25,000 (2019)
Pool-Guest House / 2500 sf , 50 x 15 pool, patios / Katonah NY $550,000. (2018)
Residential 2 story 900 sf addition / Rye, NY $310,000 (2017)
Floating 10 x 10′ Dock with 80′ long elevated pier, Greenwich Ct $240,000 (2023)
Masonry patio, BBQ, outdoor fireplace / 600 sf / Rye, NY: $45,000 (2020)
3000 sf house remodel / 800 sf addition/ Stamford, Ct : $520,000 (2016)
Rebuild 2 masonry apartment building entrances, 4 new paths / Eastchester, NY : $65,000 (2018)
New 600 sf deck , BBQ , trellis / Rye NY $ 80,000
Facade restoration / 6 story 50 unit multi family / Mt. Vernon, NY: $140,000 (2018)
20 small wood porch and stair replacements /White Plains NY : $320,000 (2020)
3000 sf commercial building Elmsford, NY: $840,000 (2021)
With more than 400 projects under our belt, we have a pretty good sense of what things cost. Give us a call and let’s discuss your ideas and budget-914 980 5532.
