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To: Raymond Duray who wrote (9328)	12/15/2004 10:40:38 AM
From: Don Earl	Respond to of 20039

RE: "I took a look at some recent transactions in NYC and they ranged from $320 to $825/sq. ft. in sales of existing low rise commercial buildings." Thanks. Even if the land makes up a big part of those prices, it sounds like costs are quite a bit higher than I would have guessed.

To: Raymond Duray who wrote (9328)	12/15/2004 10:43:52 AM
From: LPS5	Respond to of 20039

I'll ask a few friends, one of them is bound to have some idea. e

To: Raymond Duray who wrote (9328)	12/15/2004 11:09:32 AM
From: LPS5	Read Replies (1) \| Respond to of 20039

Here's an answer I've received from one friend. I'm not sure if you'll find this helpful or not. *** All I can give you is for an interior fit out - full gut and renovation would be around $250 - $400 per sf, and that is typically inclusive of the benefits a tenant receives from their lease agreement. (The landlord will throw in a certain $ per sf per their lease agreement, in some cases.) The structural system plays the major role in the cost situation. In the boroughs it can be 25%-50% of the total base building cost, interior construction not included. For a top shelf skyscraper or residential highrise building, it may be a few times that. A few times more than that if actually in mannyhatty. If the base building and interiors are designed and constructed together, that will help decrease the cost of the interior fit-out. That's all I can tell you. *** I can pass on additional questions to this guy, if necessary. e