The cost to build a house in NYC will vary based on many variables, but the cost for a basic house will often be between 300 and 350 per square foot. This cost will go up to 500 per square foot or more when building a high end or luxury home.
Cost To Build a House in NYC
Most people are most likely aware that New York City construction costs are extremely high. The New York Building Congress actually put out a study on construction costs comparing NYC to the rest of the country, concluding that New York City has the highest construction costs in the country.
“New York City is still the most expensive U.S. city in which to build.”
– New York Building Congress
I am an architect in New York City and owner of NYC Architecture Firm Fontan Architecture. The following is based on my personal experience and insight of the New York City construction industry.
How Much Does It Cost to Build a House in NYC
The cost to build a house in NYC will vary based on many variables. I will explore a few different pricing options below, and what you are likely to be able to produce quality-wise for each option.
- Less Than $300 Per Square Foot
- $300 – $350 Per Square Foot
- $350 – $500 Per Square Foot
- More Than $500 Per Square Foot
Building a House For Less Than $300 Per Square Foot in NYC
Building a house for less than $300 per square foot in New York City is going to be very difficult. You will need to work with the cheapest contractors and architects available. Also, the materials and products for the house will all be on the lower end.
There is a big risk in this, thought. Lower priced contractors and architects may produce work of questionable quality.
Building a House for $300 – $350 Per Square Foot in NYC
A basic new construction house in NYC will cost about $300 – $350 per square foot. This will be a house with basic quality, often referred to as builder quality, materials and fixtures. You will not have to use the cheapest products in this house, but you also cannot use the most expensive ones.
You will not be able to hire the top architects and contractors at this price range. You will be looking for middle to lower priced individuals. Additionally, your finishes and fixtures will be mid to low range on the price scale.
Building a House for $350 – $500 Per Square Foot in NYC
Building a good quality house in NYC starts at $350 per square foot up to $500 per square foot. This price range will allow you to have some higher end quality features. If you want to build a high end home, it will certainly be closer to $500 than $350 per square foot in NYC.
At this price, you can work with high quality contractors and architects. You can have top of the line quality products in the home, but it would not quite be a true New York Luxury home. If you are able to exceed $400 per square foot, it will be a very high quality house.
Building a House for $500+ Per Square Foot In NYC
If you are looking to build a luxury home in NYC, you will be starting at a construction budget of at least $500 per square foot. Everyone has a different idea of what constitutes a luxury home, so let’s be clear: I am referring to New York Luxury. For this market, 500 is on the low end of luxury. A luxury home can go up to 1,000 per square foot for construction or more.
At this price range, you will be working with the top contractors and architects. You will have little limit to what you can do, and the house can have all the bells and whistles with custom features.
Soft Costs for New Home Construction in NYC
In the construction industry, we use the term hard and soft costs to outline the construction expenses.
Hard Costs includes the actual construction of the home, including materials and labor. This is all the products, fixtures, materials, and contractors working on your home.
Soft Costs in construction are non-material costs such as architects, engineers, survey, geotechnical, inspection agencies, filing fees, etc.
When building a new home, expect to spend up to 20% of the construction cost on soft costs, with the largest of the soft costs being the architect and engineering team.
NYC New Home Costs
New home construction costs are complicated and vary based on many different issues. As an architect, I study these issues closely, but this post is meant only to give a general overview of the topic and does not assume to cover all options or cases.
Thank you for reading our blog post on Costs to Building a New Home in NYC.
I hope this was helpful. If you would like to speak with an architect about a potential project you can contact us at Fontan Architecture directly.
This post was written by Jorge Fontan AIA a Registered Architect and owner of New York City architecture firm Fontan Architecture. Jorge Fontan has earned 3 degrees in the study of architecture including two degrees from the City University of New York and a Masters Degree in Advanced Architectural Design from Columbia University. Jorge has a background in construction and has been practicing architecture for 15 years where he has designed renovations and new developments of various building types.