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Vol. 26 No. 3 CONSTRUCTION COST CASE STUDY
The costs for this case study are from a project that IVI has monitored on behalf of a lending institution.
March 2011
Project
High-Rise Residential
Jersey City, New Jersey
High Rise Residential
Size 14-story Tower Over Two-Level Parking Garage, 295-Condominium Units, 455,000 SFG (343,000 SFG Residential; 14,700 SFG Retail; and 96,700 SFG Parking)
Site 3 acres
Schedule 24 months
Delivery Owner / Builder
Labor Union
Outline Specifications
Site Excavation, grading, site utilities, and landscaping.
Foundation Concrete grade beams and foundation walls supported on steel piles.
Superstructure Concrete.
Facade Brick cavity wall with metal stud. Aluminum framed insulated glass windows and storefronts.
Roof Fluid applied asphalt membrane.
Finishes Wood floor in bedrooms and living areas, ceramic tile in kitchens and bathrooms, carpet in corridors, stone flooring in lobby, and painted gypsum board walls throughout.
Elevators Four (4), 16-stop electric traction elevators.
Sprinklers Dry pipe sprinkler system in garage areas and wet pipe sprinkler system elsewhere.
Plumbing Cast iron sanitary waste and vent piping, and copper domestic water supply.
HVAC Heating and cooling provided by split system units in retail and lobby areas and water source heat pumps in residential units.
Electrical 4,000 amp, 277/480 volt, 3-phase 4-wire service with a 750kW emergency generator.
Direct Cost Synopsis
Trade Rounded Cost Cost
Per Unit
Cost
Per SF
Site Work 800,000 2,712 1.76
Excavation/Foundation/Piles 5,000,000 16,949 10.99
Subtotal Site 5,800,000 19,661 12.75
General Conditions (7%) 300,000 1,017 0.66
Construction (3%) 100,000 339 0.22
Total Site 6,200,000 21,017 13.63
Concrete 18,000,000 61,017 39.56
Masonry 1,800,000 6,102 3.96
Metals 1,300,000 4,407 2.86
Carpentry/Drywall 5,300,000 17,966 11.65
Thermal/Moisture Protection 1,700,000 5,763 3.74
Doors/Windows 4,300,000 14,576 9.45
Finishes 4,800,000 16,271 10.55
Specialties 94,000 319 0.21
Furnishings/Equipment 1,800,000 6,102 3.96
Elevators 1,200,000 4,068 2.64
Fire Protection 2,000,000 6,780 4.40
Plumbing 3,100,000 10,508 6.81
HVAC 2,900,000 9,831 6.37
Electrical 5,800,000 19,661 12.75
Subtotal Base Building 54,094,000 183,371 118.91
General Conditions (7%) 4,600,000 15,593 10.11
Construction (3%) 1,700,000 5,763 3.74
Total Base Building 60,394,000 204,727 132.76
Total Rounded Direct Cost 66,594,000 226,000 146.00
Cost Distribution
Case Study Pie Chart

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