Rough PPSF to build luxury condos in NYC?

To all the people in development in nyc, a couple quick questions:

- What are rough hard & soft costs on a PPSF gross basis to build luxury condos in a prime lower Manhattan area?
- How efficient are they roughly on a net to gross basis?

-  What are the light and air rules?

Thanks

4 Comments
 
jbh12120

FWIW. Luxury will sell out between $2000-$2500 PSF in prime Manhattan markets. Construction costs will vary widely depending on project. Just make sure you have a huge debt service reserve for when the city delays your approvals. Air rights is a massive can of worms. Hire an attorney.

Except no one takes on construction debt before getting their approvals, so I'm not sure why that would be an issue...

The city can be a nightmare to build in, but this kind of needless, idiotic fearmongering doesn't help either

 

Few years ago was seeing 1600ish range with land being about half the cost. No idea what it is now but imagine land has probably gone down or held and hard costs/soft costs have gone up. 

 

Laudantium ipsum modi sit autem exercitationem ut optio illo. At dolorem dolorem occaecati mollitia. Alias aut beatae aliquam quo fugiat in sit perferendis. Vel sed et occaecati.

Ut consequatur id quos reprehenderit saepe accusantium. Alias qui veniam dolorem ut et.

Provident maxime nihil cumque ut pariatur. Nesciunt aspernatur incidunt impedit voluptatum. Consequatur dolorem temporibus a rerum hic voluptatem sint. Est in nisi itaque omnis. Voluptas non excepturi harum dolorem quae rerum.

Accusantium quasi nesciunt harum qui sit unde. Temporibus veniam vero quis expedita est tempore.

Career Advancement Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

November 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 13 97.4%

Professional Growth Opportunities

November 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

November 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (29) $183
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (77) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
kanon's picture
kanon
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
GameTheory's picture
GameTheory
98.9
6
DrApeman's picture
DrApeman
98.9
7
Betsy Massar's picture
Betsy Massar
98.9
8
dosk17's picture
dosk17
98.9
9
CompBanker's picture
CompBanker
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”