The Costs of a Full Apartment Renovation in NYC

So you’re thinking about buying an apartment in New York City with the intention to renovate. How much is that actually going to cost? It’s truly case by case—especially in NYC—where property type is key. Differences in costs can come from numerous directions, such as age, whether and how many walls are being moved, and the level of finishes.

Full Apartment Renovation Cost Per Square Foot

Using our current pricing model for full apartment renovations (inclusive of labor and materials):

• Upper Mid-Tier Finishes: $550–$650 per square foot
• Luxury Finishes: $700–$1,000 per square foot (depending on finishes and site conditions)

What’s Included In An Apartment Renovation (Upper Mid-Tier Finishes) Priced $550 to $650 Per Square?

At $550–$650 per square foot, an apartment renovation in NYC with upper mid-tier finishes typically includes a full kitchen renovation with enhanced fixtures and appliances, plus updated countertops, backsplash, and an island. A project at this level also includes multiple bathroom renovations using standard fixtures (shower/bath, vanity, and tiling/ceramics). You can also expect hardwood flooring and/or carpet installation, paint color and wall coverings, lighting and electrical fixtures, with additional trim work like base and crown moulding.

At this range, the scope is usually focused on finish upgrades and targeted improvements, and structural reconfigurations or major layout changes aren’t always included. More structural adjustments tend to depend on the existing conditions, the goals for the space, and what’s feasible within the budget.

What’s Included In An Apartment Renovation (Luxury Finishes) Priced $700+ Per Square Foot? 

Paying around $700+ per square foot, expect your NYC apartment renovation to include luxury finishes and extensive customization—often including significant layout reconfigurations, personalized detailing, and custom millwork throughout. A full kitchen overhaul is common (high-end fixtures and appliances, premium countertops/backsplash, oversized island), along with multiple fully-renovated bathrooms with elevated fixtures, custom vanities, and upgraded shower/bath builds with curated tile and ceramics.

Beyond kitchens and baths, living and bedroom spaces are often reworked with built-ins and tailored storage, while pre-war apartments may include restoration work like flooring, framing, and refreshed or rebuilt mouldings. These projects usually also cover custom window treatments (fabrication + installation), paint/wall coverings, upgraded lighting and electrical fixtures, expanded custom carpentry (cabinetry, closets, finish carpentry), enhanced trim (base/crown), custom HVAC solutions, and integrated smart home technology.

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Common Cost Modifiers in NYC

In NYC, a number of common factors can increase costs. The most prevailing cost modifiers when renovating apartments include:

• Site conditions / building constraints: can push a project toward the high end of the applicable tier
• Layout and system complexity: more involved rework typically increases both cost and timeline
• (Even within the same finish tier, these variables can meaningfully move the final budget.)
  

Why You’ll See Lower Numbers Online

It’s important to note that you will find renovations priced far below these ranges. Those budgets can be possible—but they often reflect a lighter scope, lower-finish selections, or unusually favorable conditions. Our numbers reflect our most common type of project: full-home renovations with upper mid-tier to luxury finishes, executed through our full-service design-build process.

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We’ve discussed the hidden costs of gut renovating estate-condition properties, but there can be value to it as well. That’s true here, in which banks value your home at its future, post-renovation value when they give you the terms for the loan. For example, an estate-condition co-op that is presently worth $1.2 million will be valued at $1.9 million, knowing that the renovation will match the space in value to other properties of similar square footage. For a more in-depth breakdown, read our blog NYC Apartment Renovation Tips: Costs Per Square Foot or Cost Comparison: Buying A Turnkey Apartment VS Renovating A Fixer Upper In Manhattan.

Now that we have an idea of how much things cost, consider how long things take.