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Old 12-01-2020, 03:28 PM
 
Location: Manhattan
8,943 posts, read 4,810,441 times
Reputation: 5993

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FYI

https://www.amny.com/news/more-than-...le-conversion/

New kitchens and bathrooms are among the improvements coming to more than 1,700 public apartments in Manhattan that are being converted to permanent affordable housing for low-income New Yorkers.

The majority of improvements at apartments under the New York City Housing Authority (NYCHA) are being made at buildings in East Harlem, Harlem, Kips Bay, Manhattanville, the Upper West Side and Washington Heights. More than 2,900 people live in the affected units.

NYCHA closed on a “Permanent Affordability Commitment Together” with a joint development team, lead by Monadnock Development LLC, to provide $271 million in capital support for the renovation of the 1,718 apartments.

The NYCHA sites in Manhattan affected by the latest PACT agreement are as follows:

335 East 111th St., East Harlem, 66 apartments
344 East 28th St., Kips Bay, 225 apartments
Fort Washington Avenue Rehab, Washington Heights, 226 apartments
Grampion Houses, 35 apartments
Manhattanville Rehab Group 2, Manhattanville, 46 apartments
Manhattanville Rehab Group 3, Manhattanville, 51 apartments
Park Avenue-East 122nd and East 123rd Streets, Harlem, 90 apartments
P.S. 139 Conversion, Harlem, 125 apartments
Samuel Houses I, II and III, Harlem, 73 apartments total
Washington Heights Rehab Groups 1 & 2, Washington Heights, 216 apartments
Washington Heights Rehab Phase III, 102 apartments
Washington Heights Rehab Phase IV, Parts C and D, 64 apartments total
Wise Towers, Upper West Side, 399 apartments
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Old 12-02-2020, 12:45 AM
 
1,052 posts, read 457,089 times
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$271 million in capital support for the renovation of the 1,718 apartments.

271mil/1718 = $157,000 per apartment

I'd say 80% of that goes to the mandatory NYC corruption tax

Just some regular NYC math at work here, folks
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Old 12-02-2020, 02:09 AM
 
1,399 posts, read 896,828 times
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Cool. I always live seeing new stuff immediately infested by rats and roaches.
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Old 12-02-2020, 04:47 AM
 
5,902 posts, read 3,027,312 times
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That would buy a ok house somewhere out midwest.
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Old 12-02-2020, 05:57 AM
 
34,202 posts, read 47,518,938 times
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Quote:
Originally Posted by minnomaboidenapolis View Post
$271 million in capital support for the renovation of the 1,718 apartments.

271mil/1718 = $157,000 per apartment

I'd say 80% of that goes to the mandatory NYC corruption tax

Just some regular NYC math at work here, folks
How much do you think it should cost per apartment? Are you in the construction industry?
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Old 12-02-2020, 06:10 AM
 
5,902 posts, read 3,027,312 times
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Quote:
Originally Posted by SeventhFloor View Post
How much do you think it should cost per apartment? Are you in the construction industry?

157k to renovate apartment? FOr that money you can add a second floor to a house, and renovate it inside out.

20-30k tops per unit. Are we changing cement walls here as well? Granite kitchen counter tops??
Nest in every room? Alexa?
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Old 12-02-2020, 06:41 AM
 
Location: Brooklyn New York
18,508 posts, read 31,748,093 times
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Quote:
Originally Posted by SeventhFloor View Post
How much do you think it should cost per apartment? Are you in the construction industry?



I am in the construction industry, and have been for my whole entire working career.




157k to renovate each of these apartments even with cheap home depot crap is way over priced, please.


were not talking full gut jobs, most likley replacing the kitchens, which are all small, and the bathrooms as well.


Were not talking renovating a kitchen and a bathroom in a house one would do in Mill Basin or Dyker heights, neighborhoods like that, with top of the line applainaces, granite and all that.


No, way is 157K for each apartment reasoneable or truthful for that matter.



157K can renovate more like 8 - 10 apartments, please, wow that price is way over inflated.


Our apartment building gut renovates each apartment as the tenants leave, we have 4 vacant apartments as I speak, and being on the co-op board, all of them, didnt total 157K, please
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Old 12-02-2020, 06:53 AM
 
Location: New Jersey
11,396 posts, read 16,787,464 times
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HMMM???

Wonder if Mrs. D has her hand in this also.
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Old 12-02-2020, 07:44 AM
 
34,202 posts, read 47,518,938 times
Reputation: 14316
Quote:
Originally Posted by nightcrawler View Post
I am in the construction industry, and have been for my whole entire working career.




157k to renovate each of these apartments even with cheap home depot crap is way over priced, please.


were not talking full gut jobs, most likley replacing the kitchens, which are all small, and the bathrooms as well.


Were not talking renovating a kitchen and a bathroom in a house one would do in Mill Basin or Dyker heights, neighborhoods like that, with top of the line applainaces, granite and all that.


No, way is 157K for each apartment reasoneable or truthful for that matter.



157K can renovate more like 8 - 10 apartments, please, wow that price is way over inflated.


Our apartment building gut renovates each apartment as the tenants leave, we have 4 vacant apartments as I speak, and being on the co-op board, all of them, didnt total 157K, please
I'm in the construction industry too, I know 157K for a kitchen and bathroom is expensive, no matter where the location

But these fees most likely have to include paying plumbers, electricians, carpenters, painters (did I forget anybody?) at prevailing wages, not to mention paying the architects because most likely they're filing these jobs with the city. Then also not to mention the costs of accomodating people while their bathrooms and kitchens are not functional, at the end of they day they are rentals. 157K can easily gut rehab 8-10 apartments if you hire some "guys" and don't file anything with the city.
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Old 12-02-2020, 08:28 AM
 
1,052 posts, read 457,089 times
Reputation: 1635
Quote:
Originally Posted by SeventhFloor View Post
How much do you think it should cost per apartment? Are you in the construction industry?
Seriously? To quote another user, you can buy a house for $157K in a decent area in many places outside the coasts.

$157K to renovate a small apartment (most public housing has small kitchens and bathrooms) is insanely high. I HIGHLY doubt they're using high end designer cabinets and pro appliances in these projects so I would say it should cost, at most, $15,000 with an efficient and experienced contractor.

But of course the people running NYC do not have "efficiency" in their vocabulary.
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