Expense Assumptions for Ground Up Multi in NYC
Hey Guys,
Looking to see if anyone has some rough expense estimates for a multi development in NYC.
For example, in Los Angeles were looking at:
- Insurance - $750/Unit
- Utilities - $2,000/Unit
- R&M - $1,000/Unit
- ...etc
I know its a long shot, but wanted to see.
A lot of this is easily accessible. Water and sewer have fixed rates available. Taxes should be obvious. Everything else depends on the building, though on a new construction project you'd assume relatively little in the way of R&M
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