NYC Development Cost Update
Long time reader, first time writer here. Really appreciate all the insights on other threads. I'm an analyst on a CMBS debt team at G-SIB here in NYC interviewing for an analyst role at an institutional dev shop. Given the nature of CMBS lending, I haven't been exposed to many dev deals. Does anyone have an update on what developers are underwriting for total project costs (hard & soft) on a GSF and NSF basis for both commercial and multi product in NYC today? Would appreciate any links/resources with more info on NYC dev costs too (if they exist).
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