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FireDragon, can you say which direction you decided to go? Would you recommend your architect who is flat fe? Sounds like our projects are similar. For high-end on architect estimated $550-$650k for 1400 sq ft 2 BR 2 bath. Gut Reno with Demo of some walls and needs windows and HVACs. Architect will only do %. Thank you.
FireDragon, can you say which direction you decided to go? Would you recommend your architect who is flat fe? Sounds like our projects are similar. For high-end on architect estimated $550-$650k for 1400 sq ft 2 BR 2 bath. Gut Reno with Demo of some walls and needs windows and HVACs. Architect will only do %. Thank you.
We were at about $250, but that is with our own sourcing of materials. I think roughly $350 is about right with a design build firm. I did like our contractor, the finish work was very good.
One thing with a design build firm is to make sure you understand how they will source and any limitations.
With design build, as long as you know what you are getting into, they are a good alternative. At times you may be forced to source thru them and pay their price because of time constraints. So plan
accordingly and be aware of time frames on when specific materials will be needed.
$300 with finished material but with new windows and HVAC it could cause the price to go up more depending how involved it is. It usually is better to have the GC purchase the materials and they become responsible for them but I have worked on many projects where the owner purchased everything and we helped them in all aspects of ordering.
The two lower bids came from design/build firms. They have designers, program managers, and handle material sourcing. I actually prefer less handholding, but they both stressed to me the importance of letting them order the finishing materials to avoid problems and delays. I think that makes sense, and maybe part of their profit is built into there. I have no problem as long as the markup is reasonable. (A friend talked about a contractor who put a 100% markup on many items!)
Thanks for the advices. 300, my architect is a flat fee one, so there is no conflict of interest. I'll ask for his opinion. I'll also check references and see job sites. The lowest bid has the longest warranty and they've been in business for a long time. Their bid isn't as detailed as the second lowest one, but still lists job scope in each room and a subtotal for that room. I can tell their unit price is lower in a few areas.
Wongepea, I saw your recommendation of classic and contacted them. They replied quickly that they are busy till next spring so can't take on my project. How much per sqft did your reno come to and are you satisfied? The $500 stick on fire alarm is ridiculous!
Primer, the $300 number is including the finishing materials right? I think we're getting there with the window replacements, air conditioner work, etc.
Twice as I forgot what it meant within an hour.
Thanks. I had to google it.
AFAIK = As Far As I Know
Front Porch you are onto something with the kitchen. I remember this building and that space that you see is where the stainless kitchenette went across that back wall. Those were the days of half fridges. Notice if you look at the floor plan, the fridge now will go next the oven which is out of the area.
BTW, you can easily cook in this size kitchen but can not get fancy with multiple dishes at the same time. Then the apartment is meant just for 1 person or at most a couple.
I can remember when the UWS seemed to have a supermarket every three blocks. One of the great things about the area aside from good transportation it also had tons of shopping. Who remembers the Nevada Butcher at 69th and Broadway. Boy do I miss that.
"There’s nowhere to go but down,” Cushman & Wakefield’s Steven Soutendijk told Crain’s. “Rents got too high too fast.”
https://therealdeal.com/2017/01/23/retail-faces-a-bleak-future-in-nyc/
Steve - I'm curious. What type of marketing do you have in mind? It strikes me that the internet has made the listing/marketing process so transparent that other marketing would be of very limited utility. I do see the value in having lots of open houses, and brokers certainly should do that - is that what you have in mind?
Sound logical Doug. My problem with brokers is the mentality of "talking the seller into listing for as low a price as possible" and "initiate price cuts as soon as possible" all this for....the quick sale. It's almost as if the seller is not only dealing with the buyers who want the lowest price but their own agent who want the same thing. Lets forget the price cuts first and let's concentrate on ramping up the marketing first.
My 2 cents is that "marketing" means different things to different listings. Some listings merely need to be distributed with good photos, description and floor plan for buyers to take notice and show up. But that's just one part of marketing. The other part is selling the buyer once they have decided to see the home. This includes staging the home, as well as the actual selling that happens between the broker (or owner) and the buyer. A good broker will know how to differentiate their property from the competing properties that they know the buyers are also looking at, and make the case for why the home is fairly priced. But if a listing is properly distributed, properly staged, with a strong sales presentation and still doesn't receive offers after 20 showings, there's a good chance it is over priced. That said, the smaller the pool of buyers (unique properties, strange layouts, etc.) the longer it takes to sell. At RealDirect, we coach our Owner Managed sellers on all aspects of marketing - and let them know that they can always turn it over to our Agent Managed team if they want a pro to handle it.
Doug Perlson
www.realdirect.com
Everybody thinks their property is unique but some properties truly are unique (ex: a basement apartment with no light but very high ceilings, huge outdoor space and high maintenance). The more unique a unit is, the more narrow the market and the longer it MAY take to sell as a matter of course. You have to account for that when comparing to "averages". The less unique a property is the more it is just a price issue.
Hey guys thanks for all of the interesting and informative responses, lots of food for thought.
urbandigs, your chart with filters is a very good tool, thanks. Kept us posted on your upcoming developments.
When was the last NYC local law 11 inspection?
looks like the building is falling apart
Any current residents of 340 East 64th have any advice or thoughts about the building? Currently thinking of purchasing but curious as to the area, the building and even schools - PS 267.
Nice. Guessing above ask?
Contract signed.
Lived in the building for many years and knew the original owner of this apartment. Very nice renovation. I still know people in the building. Moved to another building for a larger apartment because there was too much controversy with the Board.
I think it is a good idea to list the flip tax: why wait until the deal has been fully negotiated and the buyer's attorney does their due diligence and then gives them an excuse to renegotiate because of a "material undisclosed fact"?
Architect was Jennifer Swee; I think she did a spectacular job.
Heavy heavy OH traffic, FWIW.
We started RealDirect in 2011 so that sellers had an option that saved them a lot of money - similar to a FSBO - but also provided the distribution that a brokerage has - i.e. in RLS, Streeteasy, NYTimes, Zillow, etc. Yes - one of the benefits is that you will not be bothered by brokers trying to get your listing, but the biggest benefits are the buyer reach as well as the guidance our team gives each of our sellers all the way through closing. ForSaleByOwner .com is not a good option in NYC.
Doug Perlson
www.realdirect.com
Also, Elleinad85, what? It's a great website, sure, but did it surpass Re/Max, Zillow, and Realtor.com when I wasn't looking?
UESbuyer, when StreetEasy was started, the site invited brokers to submit little write-ups of buildings -- you'll often find, if you read down far enough, that a broker is "credited" with the write-up. That having been said, there's no incentive to update the building blurbs, so as facts change about a building, they become out-of-date. (One easy example is that I just sold in an Upper West Side building whose board had changed its flip tax a few years ago ... SE still has the old, "per share" flip tax as opposed to the new percentage flip tax -- which on a one-bedroom is a difference of more than five thousand dollars. )
That's one reason why some brokers specialize in very specific local markets -- I'm sure if you decided you wanted to live in a Third Avenue postwar brick that there's a broker (not me) who could compare the finer points of 1160 Third and 205 East 77th and lay them out for you.
ali r.
For what it's worth from the perspective of a prospective buyer (and from talking to other buyers): unless you are buying for investment purposes, from my anecdotal experience, it seems that most prospective buyers basically either (I) look at Streeteasy (or perhaps some other website that aggregates listings, although I stick to Streeteasy) OR (ii) hire a broker to do the searching. I think that in a city as dense as NY, it is too time-consuming for most amateur buyers to use multiple listing resources. I personally never go to a broker's or a FSBO website unless I'm linked to that site by Streeteasy or Trulia.
As an FYI - Corcoran.com is the #1 most visted real estate website in the US. If you're trying to sell in NYC, it might make sense to meet with an agent from Corcoran to talk about maximizing your listing's exposure :)
There are a fair amount of posts regarding renovations, but most people will say you will need to budget about $150/ft at a minimum if you are using a General Contractor. If you want high end - which included high end millwork, hardware, appliances, etc. you will be closer to $300/ft. As 300 Mercer mentioned, floors are a big ticket item, so if you are merely doing a refin, rather than all new floors, it could be less expensive. Same for electrical - if it has already been upgraded, it can save you another $25K. I recommend bringing at least one contractor in (whose work you have seen) to get an estimate prior to signing your contract. Also keep in mind that some buildings won't let you do a traditional central air due to the location of the compressor - so you will wan to clear it with the building prior to your contract if having it it is a deal breaker.
Doug Perlson
www.realdirect.com
BTW, sometimes it is not a bad idea to start with a max you want to spend and make adjustments to what you want accordingly. Let us say if you wanted to spend only $300k, you will need to go for Bertazzoni instead of Wolf range. One thing I will recommend is to get the flooring to your liking as that is hard to re-do once you are in. If you are going to change it in 5 years time, change it now.
Neetu, Bathrooms and Kitchens are the highest cost items. Do you need flooring, lighting and electrical update, millwork (new doors/finished closets) as well? If so, you are talking about gut-reno as far as apartments go. Otherwise, for nice job appropriate for 2000 sq ft apt, you can do Kitchen for 75-100k (subzero, Wolf etc but not fancy brand name cabinetry). Bathrooms for 25-50 each without using slab marble and Dornbracht/eqt but depends on how big they are. CAC is 50k due to ducting etc. When Kitchen and Baths look nice, suddenly the rest of the apartment has to keep up as well. I would say $400k to $600k with all fees included without going for top-end branded finishes.
Hi, looking to bid on a 2000 sq ft apartment in manhattan.
In my view, the kitchen needs a full rehaul (not relocating taps / burner ).
The apartment has 2 bathrooms and both need a rehaul. Might need to relocate WC in 1.
Need to put in central air.
Make a walk in closet (interiors only).
Would like to estimate costs and also best process -- what kind of team do I need to assemble? What's the best kind of contract for the work to keep costs within budget? Looking at high quality work/materials.
Thanks.
This is 100% a layout problem. Buyers typically want, in a duplex, the entertaining areas separate from the bedrooms.
I would probably make the upstairs one big room ideally. Not sure how much that would cost but, I'm guessing by your comments, that would move it out of the "good deal" category.
There have been any number of discussions on here about how combination apartments don't always work out for the best for many reasons.
I find the layout odd. DR and kitchen upstairs? A classic duplex layout puts public space on one floor, private space on another. No good circulation plan for parties (have to bring all the cocktail hour snacks down from upstairs), though you can put the mother-in-law's bedroom far from yours.
This is a pretty crazy good deal no? Not a potential buyer of this one but I have been watching classic 6's in the UWS. Seems to be the best one I've seen for $3mm.
Construction noise in the building is a huge problem during the day. Almost every day loud drilling means I have to work with noise cancelling headphones on. There were hot water issues in 2015 but they seem to have been resolved.
After reading the other reviews I thought I would add mine. I have been living in the Corinthian for almost 1 year. I have always been a downtown NYC guy (village, union square, chelsea) and decided to change it up. When I saw the B line, which looks over the midtown tunnel and then over a park I was blown away. I can see 5 bridges and the views are completely unobstructed (and protected). The Corinthian has the best views from many of the lines I have ever seen. Last year the building did a multi million dollar renovation to the 4th floor where the health club, pool, sauna, steam, putting room, billiard room and yoga room are. The gym is as nice as any expensive gym in the city and it's big. It's never crowded (I work out almost every day) and it's free for residents. The pool has never been closed during the last year that I'm aware of . The entrance and lobby is the nicest I have seen in a residential building (the furniture is just ok). There is a large sun deck with chaises on the 4th floor with a running track. The staff is the best - super friendly and no attitude. There is a valet/laundry/dry cleaner in the basement which makes life easy. The hot water system was replaced a couple of years ago and there is never a lack of hot water. I take a HOT shower every morning at 8am and it's never been an issue. The floors are poured concrete so I've never heard my neighbors. I have never heard them on the sides either. The building just finished renovating all the hallways and they are beautiful. I see some people complain about the location but I love it. It's no noisier or dirtier than anywhere else I've lived in the city. Lots of great restaurants all around the area. Because the Corinthian has over 800 units and commercial spaces on the ground floor, the maintenance is very low. Compared to other buildings which offer the same amenities it's a steal. I love the building.
my review is for date February 2016.
Are you still living there ?
I agree about the location but this is evident to everyone that it is dirty and very noisy. The people who chose to live in midtown trade location for proximity to their office and do this consciously. However, there are things that are hidden and people must know, things that estate agents won't tell you. For me the lack of hot water during pick hours, the internal construction noise and the smell/ smoke from ventilation would have been absolute deal breakers if I new in advance.
@SEasy56479 - tread very carefully. I recently had a bad experience with an architect who lacked the relevant qualifications to complete the job, thereby wasting considerable time and money.
She also happened to be a one woman show, I'd be fascinated to hear if it's the same individual. Perhaps we could compare notes? [email protected]
Architects are required to carry Professional Liability Insurance in New York City. Good luck! Richard Garey, Manhatta Architecture, P.C. www.manhatta.net
I guess I thought that Architects are supposed to have some sort of insurance that insures their design in case it's bad. I'm reading that about 70% of sole proprietor architects are not carrying their own "errors and omissions" insurance because it's too costly.
Found a good architect but she just doesn't have the errors and omission insurance. She only has liability insurance on her LLC.
The GC and subs won't carry the liability for a professional failing on her part (for example, insufficient design of a load-bearing support that replaces another load bearing component). What level of risk on your project do you want her to be insured against? Moving walls, picking the wrong paint color?
I understand that GCs and sub-contractors must have insurance. What about architects?
I'm considering an architect who is a one woman show and she does not have insurance but states that the GC and subs will carry the liability.
Is that typical?
Thank you BryantPark. This architect is not licensed to sign off on documents. Their partner is and their partner will be taking the responsibility for the stamp and seal. I'm not sure if that's strange. Their partner company will also be assuming liability insurance wise.
Also, make sure they're licensed - check here:
http://www.op.nysed.gov/opsearches.htm
Unless they're licensed, they can't actually sign off on plans and get permits for you, which is the important part.
Architects are required to carry Professional Liability Insurance in New York City. Good luck! Richard Garey, Manhatta Architecture, P.C. www.manhatta.net
I'm getting ready to a hire an architect (small 1-2 man firm) for my apartment gut renovation. I did ask if they had liability insurance and they said no. They said the contractors and subcontractors would.
Is that normal? Does one only hire an architect that carries liability insurance?
Most architects work with an interior designer unless they themselves do it.
It is highly dependent on the architect with regard to how involved they are comfortable with in terms of the interiors. Typically, once you get to the level of custom furniture and window dressings, that would be an interior designer. Things lik tile and appliance selection have some overlap. If you intend to bring on an interior designer, I recommend doing so early on in the process. Good luck! Richard Garey, Manhatta Architecture, P.C. www.manhatta.net
I'm just about to start the process of a gut renovation to my apartment. The architect will be surveying in 2 weeks and start drawing.
While the architect can assist with design services and selections, I'm considering getting an interior designer in the mix. Is that wise?
I figure the architect would focus on the layout and structure and the designer would help to pick finishes, tiles, appliances, and help with furniture, curtains etc.
Is that what people normally do? I have zero interior design skills. I know what I like but I find it hard to put it all together.
Do i hire an interior designer from the start of the gut renovation? or just for the furniture at the end?
Yes, I did. And they were OK with it. Now the building is scrutinizing their policy and finding some exclusions unacceptable, including the subcontractor coverage issue. Hope they can work it out soon.
Bumping this up after the spam.
From what I understand, the GC should be able to add them to their additionally insured. Did you not give your GC the alteration agreement before hiring them?
We hired a GC for a full renovation of our co-op apartment. The building's insurance agent said the GC's insurance is not acceptable, because it excludes injuries to subcontractors. The GC said this is because they request every subcontractor to be individually insured.
Has anyone been in this situation before? What is the best solution here? Is it possible to ask the GC to extend his coverage to the subs, but only as a secondary coverage outside of their own coverage? How much would it cost?
Thanks in advance.
A few days after this house went on the market, I gently tried to tell the broker that it was seriously overpriced at $2.2M. Like, outside the realm of reality overpriced. She responded as if I didn't know what I was talking about. It took about 6 months, but it seems sanity may be finally prevailing. It's now "temporarily off market." Better late than never. It's this kind of magical thinking that distorts the real estate market in this city, especially Brooklyn. Even if the seller insisted on this ridiculous price, it's the broker's job to talk the seller off the ledge.
Does anyone have any updated views on how secure the south views are? Thanks!
Note to 5 months ago:
Now that the City has gotten into the business of creating from whole cloth and immediately selling air rights (vs. transfer of existing air rights, as has been going on for some years), don't assume that a shrimpy little building that already sold its rights away can't be ripped down and replaced with more dreary placeholders for the dirty money of oligarchs and the like. Plus the usual TFBs, of course.
Coy Wolf, the only way that you or anyone will be able to tell is if you hire an architect to conduct a zoning analysis. Anyone who think they know is kidding themselves
Wow. Thanks so much NWT, and Ali!
I don't really work the East side (and wouldn't comment on whether views are protected if I did -- that's a job for lawyers) but it's worth pointing out that of course Maison East has a D-line. On the lower floors, they seem to be 1-BRs; on the upper floors, a small Jr. 4.
ali r.
{downtown broker}
Cc, spamberger is just a free loader. He can just pay streeteasy for ads.
Stop resurrecting threads from 4-8 years ago. The original posters are likely long gone.
Yes- and you can learn a lot more about the building here: http://thebambergergroup.com/b/35/manhattan-place+630-first-avenue/murray-hill/nyc
Hello,
A buyer wanted to know if this building is well insulated for noise and is concerned about noise from neighbors. Are the walls and ceilings thick enough to mute neighbors' voices and children running overhead?
Just pay streeteasy for ad.
Great site to learn a lot of useful info on the building- http://thebambergergroup.com/b/37/warren-house+155-east-34th-street/murray-hill/nyc
What makes you think the shares were miscalculated?
Keep in mind that share allocation is not an exact science. Elements like view, floor level and natural light all come into play. So if your apartment is on a high floor with open views it may have more shares allocated to it than the exact same unit on a lower floor with no view.
Also, if your apartment was split into more than one unit at conversion and then later recombined, the resulting unit will almost always have more shares than a comparable unit that has remained intact since conversion.
You are out of luck. Reducing your shares will increase will increase number of shares for others. Why would they ever agree to that. In addition, when you bought, you agreed to buy certain number of shares with a lease to use a certain space. You due diligence opportunity is over when you bought.
If the original shares for a specific apartment were allocated correctly
Are you asking if the maintenance was calculated correctly based on the percentage of total shares or if the original shares were not correctly allocated?
If you suspect that maintenance was not calculated properly in original offering plan - what options does one have to contest and re calculate? what is the process?