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Vol. 26 No. 1 CONSTRUCTION COST CASE STUDY
The costs for this case study are from a project that IVI has monitored on behalf of a lending institution.
January 2011
Project
Condominium Building
Brooklyn, New York
Condominium, Brooklyn, NY
Size 8-story, 40-unit, 118,000 SFG with 1-below grade parking level
Site 0.5 acres
Schedule 24 months
Delivery Guaranteed Maximum Price
Labor Open Shop
Outline Specifications
Site Excavation, grading, utilities, and landscaping.
Foundation Concrete foundation walls, footings, and mat slab.
Superstructure Concrete frame.
Facade Aluminum framed windows with stone panels.
Roof Modified bitumen membrane.
Finishes Wood floors at living areas, ceramic tile at bathrooms in units, carpet at corridors and stone at lobby floors; painted drywall partitions and painted concrete ceilings throughout.
Elevators Four (4) 9-stop gearless traction elevators.
Sprinklers Dry pipe sprinkler system at parking level, wet pipe sprinkler system elsewhere.
Plumbing Cast iron sanitary waste and vent piping; copper domestic water supply.
HVAC Heating/cooling at units provided via gas-fired boilers supplying hot water to fin tube radiators, cooling provided by air-cooled split system. Roof-top packaged units provide heat to common areas.
Electrical 4,000 amp, 120/208 volt, 3-phase 4-wire service.
Direct Cost Synopsis
Trade Rounded Cost Cost
Per Unit
Cost
Per SF
Site Work 1,807,000 45,175 15.31
Excavation/Foundation 3,354,000 83,850 28.42
Subtotal Site 5,161,000 129,025 43.74
General Conditions (11%) 568,000 14,200 4.81
General Contractor Fee (4%) 229,000 5,725 1.94
Total Site 5,958,000 148,950 50.49
Concrete 5,146,000 128,650 43.61
Masonry 1,372,000 34,300 11.63
Metals 467,000 11,675 3.96
Carpentry/Drywall 1,317,000 32,925 11.16
Thermal/Moisture Protection 651,000 16,275 5.52
Doors/Windows 2,589,000 64,725 21.94
Finishes 2,302,000 57,550 19.51
Specialties 367,000 9,175 3.11
Equipment 19,000 475 0.16
Cabinets/Appliances 1,258,000 31,450 10.66
Elevators 786,000 19,650 6.66
Fire Protection 312,000 7,800 2.64
Plumbing 2,039,000 50,975 17.28
HVAC 1,399,000 34,975 11.86
Electrical 1,913,000 47,825 16.21
Subtotal Base Building 21,937,000 548,425 185.91
General Conditions (11%) 2,413,000 60,325 20.45
General Contractor Fee (4%) 974,000 24,350 8.25
Total Base Building 25,324,000 633,100 214.61
Total Rounded Direct Cost 31,282,000 782,000 265.00
Cost Distribution
Case Study Pie Chart

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