NYC Apartment Renovation Costs In 2024: Costs Per Square Foot

TABLE OF CONTENTS

• Costs Of Typical NYC Renovation At A Glance
• Four Tips to Maximize Apartment Renovation Costs Per Square Foot
• Adding Value With a Design-Build Firm
• Conclusion

Renovating your New York City apartment provides value well beyond a dollar amount. It can mean adding more space for a growing family, living in your ideal location, or achieving the luxury aesthetic you’ve always wanted.

Of course, the money does matter. If you’re looking to sell, a renovation can net you a higher price. If you’re in the market to buy, choosing to renovate a fixer-upper can be more cost-effective than purchasing a move-in-ready home. Either way, knowing what to expect when considering the cost of your NYC apartment remodel is vital to a streamlined renovation.

Ultimately, the price tag depends on the scope of your project and how you plan and execute, but there are some general per-square-foot prices we can provide as a guideline to help prepare for your project. And with the help of an experienced, all-inclusive design-build firm, you can maximize every dollar spent on your renovation.

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[#Costs]Costs Of Typical NYC Renovation At A Glance[#Costs]

Typically, a full upper mid-tier renovation can range in cost from $250 to $450 per square foot (inclusive of all labor and materials), though price can vary due to various factors. Luxury renovations will typically start at $450 per square foot and can fetch as high as $800 per square foot depending on level of finishes and site conditions.

Material Selection

One factor in the cost of a NYC renovation is the quality of materials desired. To help gauge the cost per square foot and how materials factor into the bottom line, we’ve broken down a standard apartment renovation in comparison to a high-end apartment renovation:

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Apartment Renovation (1,100 Sq Ft) Priced $200 to $300 Per Square Foot Includes: 

• Full Kitchen Renovation (Standard Fixtures, Appliances, Countertops, Backsplash, Island)
• Multiple Bathroom Renovation (Standard Fixtures, Shower/Bath, Vanity, Tiling & Ceramics)
• Hardwood Flooring and/or Carpet Installation
• Paint Color + Wall Covering
• Lighting + Electrical Fixture
• Trim (Base & Crown Moulding)

Apartment Renovation (1,300 Sq Ft) Priced $350+ Per Square Foot Includes: 

• Full Kitchen Renovation (High-End Fixtures, Appliances, Countertops, Backsplash, Island)
• Multiple Bathroom Renovation (High-End Fixtures, Shower/Bath, Vanity, Tiling & Ceramics)
• Living & Bedroom Renovations (Custom Millwork)
• Pre-War Restoration (Flooring, Framing, Moulding)
• Custom Window Treatments + Fabrication/Installation
• Paint Color + Wall Covering
• Lighting + Electrical Fixture
• Custom Carpentry (Cabinets, Closet Builds, Millwork, Finish Carpentry)
• Trim (Base & Crown Moulding)
• Integrated Smart Home Technology

Dry & Wet Spaces

When you’re renovating an area that’s considered a ‘wet space’ that means you’re likely going to be touching plumbing stacks. This typically increases the costs per foot. For example, dry spaces such as a bedroom or living room can cost an average of $50 to $70, while wet spaces like the kitchen and bathroom can range from $300 to $400 per square foot.

Layout Adjustments

Changing the layout will add to the cost and likely start your renovation in the $300s per sq foot.

NYC Permits & Formalities

Architectural plans, permits, and other paperwork needed to apply for a NYC apartment remodel can cost upwards of $20,000. For example, if your project includes plumbing work, the permits for that alone can cost as much as $5,000. Electrical permits cost about $900 on average, while an asbestos inspection, if necessary, would run you an additional $500 to $1,500. Architectural plans start at around $15,000 but can range higher depending on the level of engagement and detail of plans. 

Heating & Cooling

Adding central air to your scope can easily add $50,000 or more to your project, but it is not unheard of to reach closer to $100,000 depending on the size, scope, and ancillary work involved. 

Pre-War vs Post-War Spaces

A pre-war home with plaster walls will tend to increase costs, simply because plaster walls require more work in order to modernize, whether necessitating multiple skim coats or demolishing old ones to be replaced with new materials. Learn more about pre-war renovations in New York City. 

Elevator vs. Walk-Up

Never take heights for granted when considering cost. Naturally, renovations that require walking up stairs take longer and thus cost more because all the materials have to be manually transported. The higher the floor, the costlier the renovation.

Existing Condition 

An estate-condition space is likely to run north of $350 per sq foot if the project is a full gut renovation. For more on such extensive renovations, read Gut Renovations 101. Other factors that tend to increase the renovation costs of pre-war spaces in estate-condition include asbestos and lead abatement and the desired level of period specificity.

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[#Four]Four Tips to Maximize Apartment Renovation Costs Per Square Foot[#Four]

That’s a lot to consider, right? Before you get overwhelmed, the following four strategies can help maximize the value of your NYC renovation costs per square foot:

1. Shop For Quality, Not Name Brands

The specific fixtures and finishes you choose will be one of the biggest factors in your project’s price tag. The most important tip we offer is to focus on choosing high-quality options rather than defaulting to name brands. Some luxury brands such as Sub-Zero and Wolf can be justified because of the cost savings of keeping your food fresher for a longer period of time or because there is a certain level of expectation a future buyer may have of the appliance types they expect when purchasing an apartment. On the contrary, spending on known and overpriced brand name cabinetry or certain plumbing fixtures should be avoided as there are numerous better quality and lesser priced alternatives in the market. 

2. Make Layout Changes A Last Resort

Sometimes, a layout change is necessary to include in an NYC home renovation. But, if you don’t need to add extra bedrooms or closets, you can expand your space, optimize natural light, or achieve other space-changing effects through strategic use of the right finishes and design elements. Your best bet is to work with an experienced contractor who understands how to use design to change your home’s aesthetic without changing its layout. They’ll help you understand all the options available before you decide to knock down any walls.

3. Work On A No-Change-Order Model

Another advantage of working with an experienced, trusted contractor is the assurance that you won’t have to deal with change orders halfway into your project, unless you request them yourself. No matter how much you strategize your renovation, you can still end up wasting time and money if your contractor tells you it’s possible to add light in your kitchen without a layout change, then goes back on that promise after demolition starts. Our strict no-change-order model includes every element of your renovation from step one, ensuring you don’t encounter unexpected charges like this at any phase of your project.

4. Hire Skilled Trades As Needed, Not Upfront

For large NYC apartment remodels, the traditional process includes hiring an architect as the first step. Though architects play an important role during certain phases of a project, not all architects are created equal. By waiting to hire one, you can take time to research the one that’s right for you. At Gallery KBNY, we work closely with architects and other skilled tradespeople based on the unique job requirements. We know the quality of their work and areas of expertise, and we know when that expertise is necessary for a given project.

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[#Adding]Adding Value With a Design-Build Firm[#Adding]

At Gallery KBNY we partner with our clients to provide a seamless experience to the entire planning and renovation process. Our full-service design-build approacheliminates time and cost inefficiencies by having one professional team manage all aspects of the design, architectural planning, board approval, construction, and project management process.

Streamlined Communication

There are an excessive amount of moving parts in nearly any NYC renovation. That’s why effective communication is essential to a successful end result. Since design-build firms have all parties involved under one roof, communication between design and construction is seamless and leaves minimal project management for clients. 

Extensive Planning To Avoid Unexpected Costs/Delays

With a full-service team of design and construction professionals experienced in the complexities of NYC renovations, design-build firms help prevent change orders and mid-project budget adjustments.

Board Approval And Permit Pros

We take on the responsibility of handling all red tape involved in a NYC renovation, at no additional cost. This includes reviewing and satisfying a condo board’s alteration agreement, filing all relevant architectural plans with the Department Of Buildings, and procurement of all necessary permits. Gallery also handles all LPC approvals and requirements.

All Costs Accounted For

Between labor from various trades, materials for multiple rooms, plus all the permits and testing, the amount of costs required for a full renovation in New York City can be extremely difficult to keep track of. By working with a full-service design-build firm, all expenses are tallied on one easy to digest bottom line. 

Enhanced Material Access

Through our vendor relationships, we provide access to a wider variety of high-quality products, appliances, and finishes than you’ll find on any showroom floor. Also, because we quarterback the entire process and all the moving parts involved, we can help you cut out errors and overruns that impact your project’s timeline and costs per square foot.

[#Conclusion]Conclusion[#Conclusion]

With so many cost considerations when renovating in NYC, teaming up with a turnkey design-build firm is the most effective way to maximize your investment in your dream home. 

Considering an apartment renovation in NYC? View our full portfolio of New York City renovation before and afters, learn more about Gallery KBNY, or simply contact us today.

We’re an award-winning design-build firm in New York City with a full-service approach to residential renovations in Manhattan and Brooklyn that includes everything from interior design and architecture services to filing permits and construction management. We’re experts in renovating pre-war homes, kitchens, bathrooms, flooring, sourcing custom pieces, building entirely new rooms (or even balconies), millwork, and all that falls in between.