At West Village General Contracting we have the privilege of working with sophisticated clients from around the country and around the world, and they are often confused about why prices in Manhattan are so much higher than other major US cities.
Just recently we completed a couple’s Penthouse apartment in Chelsea, that had relocated from Chicago where they had finished a similar renovation three years ago. The quotes they were getting were around 35% more than they had spent in Chicago and at first they couldn’t figure out why or how it could cost more in Manhattan.
When we explained that our cost basis is dramatically higher than in other parts of the country and even in the world they began to understand the math.
We are an island; all space is premium space, even truck parking and storage.
Just think about what it costs in parking/parking tickets in Manhattan, rent, materials costs, deliveries, strict building hours and noise requirements, add in sky high insurance premiums and an endless demand for skilled labor and it becomes clear why building in Manhattan can be complicated and expensive.
We only work in Manhattan and have done for almost 20 years this, the article below is excellent and gives real insight into our experience building in NYC.