Average $102,000 to $240,000 per unit
Above is a chart, representing the construction cost per square foot for these projects, classified by region. Note, there are wide differences in cost depending on location, and New York City tops the chart at $232.14 per square foot while Winston-Salem is on the low end at $133.28 per square foot. The median falls around $178 per square foot. 1 This excludes land acquisition and site improvements like parking, gardens and play areas. 2  Materials would cost around $238,000, labor would cost roughly $238,200, machine costs would stand at roughly $8,300 and the contractor would take in over $67,000 for the project. 1 This sort of building, however, would not come in at a simple cost of $85 per square foot due simply to the excessive amount of construction required on the interior. 2  A two-story unit of wooden construction with two condominiums would run roughly $484,500 in total costs STUDIO ED $13,225,000 Condominium Construction Financing for 18 month term. 76 units comprising of one and two bedroom units located in the desireable Oliver area of Edmonton. 83% Loan to Cost Ratio; 50% presales. Miravista. $56,000,000 construction loan and mezzanine financing for 95% of the construction cost for this project in Kelowna, BC. 999 SEYMOUR $43,050,000 mixed residential and commercial building features 134 smart urban homes located on the corner of Nelson and Seymour in the heart of downtown Vancouver. For the building of a condominium complex of two units, the typical costs include: 1  With lux-range materials, a normal foundation with full basement, efficient doors and windows, all appliances, and turnkey finishing would run at an average of $102,000 to $240,000 per unit to complete. 1 This sort of building, however, would not come in at a simple cost of $85 per square foot due simply to the excessive amount of construction required on the interior. 2  A two-story unit of wooden construction with two condominiums would run roughly $484,500 in total costs A few years ago, the highest-end condominium projects in the city cost about $650 per square foot to build. And back in 2005, the developers of 15 Central Park West shelled out only about $400 per foot to construct their gold-standard condo project. Coletti cited the city’s School Construction Authority’s predicament as a prime example of the impact of increased insurance costs. The SCA was paying about $95 million per year for construction insurance from 2011 to 2013. But that figure jumped to $234 million for 2014 alone. 1 This does not include acquisition of the land, however. 2  The above figures place this construction at an $85 and $200 per square foot cost, though national average stands at $125 for most contractors. 1 This sort of building, however, would not come in at a simple cost of $85 per square foot due simply to the excessive amount of construction required on the interior. 2  A two-story unit of wooden construction with two condominiums would run roughly $484,500 in total cost In addition, not all boroughs are created equally. Manhattan is, not surprisingly, the most expensive borough in which to build, with average hard construction costs for buildings over 10 stories logging in between $400 and $600 per square foot, according to IVI International’s Barone. Coletti cited the city’s School Construction Authority’s predicament as a prime example of the impact of increased insurance costs. The SCA was paying about $95 million per year for construction insurance from 2011 to 2013. But that figure jumped to $234 million for 2014 alone.
http://evstudio.com/construction-cost-per-square-foot-for-multifamily-apartments-2012/ http://www.fixr.com/costs/build-condominium http://citifund.com/recent-projects/condo-construction http://www.fixr.com/costs/build-condominium http://therealdeal.com/issues_articles/nycs-construction-craze/ http://www.fixr.com/costs/build-condominium http://therealdeal.com/issues_articles/nycs-construction-craze/
construction cost condo