Operation Expense Ratio for New multifamily in Brooklyn 150 units?

Brooklyn is a big place even within the luxury highrise sector, so it depends on a lot of variables like neighborhood and if there's a tax abatement or other affordability structure in place. I've seen everywhere from 25-45% (brokers will obv tell you on the low end if not lower). Are you underwriting or just trying to compare assets?

~35%

Any tax abatements?

For new construction I usually use 30%, 45% is usually too high if it's a modern building. 20% if there's a tax abatement.

You should be able to look up comps in the area and see what kind of expenses, taxes; et those buildings had.

New construction out here on the West Coast is around 30-32%. Older buildings should be closer to 40%. Every area and building is different though, so do your DD. The above are just %'s for a quick reference.

Weird question to ask because the construction guys should probably give you a nice estimate based on the equipment you purchase/use and the lengths you go to make it efficient. Also, are the tenants paying heat and electricity? Bunch of factors go into it.

(Typically) tenants in new construction only pay base rent. There may be miscellaneous charges for parking, storage, misc. What kind of amenity package are you assuming for this development? Without knowing much, I would echo what others have said, should be somewhere between 30% - 35%. I haven't been involved with a 150 unit complex, but I would imagine there are economies of scale with the larger developments. Given that, I would anticipate the expense ratio to be on the lower end.