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Atlantic Yards/Pacific Park graphic: what's built/what's coming + FAQ (pinned post)

Report: construction costs keep rising in New York City

On 4/16/18, Crain's New York Business reminded us that Sky-high construction costs rose again in 2017, though the 3.29% increase between Q1 2017 and Q1 2018 was actually less than that in the country as a whole, according to a report from thjje consultant Rider Levett Bucknall,

Still, New York City remains world's most expensive place to build, which affects not just market-rate construction but all construction--hence the need for subsidies and also not-so-affordable below-market housing.

The graphic below, from the report, cites hard construction costs--so, omitting things like design and legal--based on dollars per square foot of gross floor area.

Note that, in New York City, building below-ground parking ($125-$200/square foot) can be quite expensive, as is building office space ($375-$575/sf prime, $300-$400/sf secondary). Apartment construction ranges from $200-$375/sf.

No wonder developers of Atlantic Yards/Pacific Park wanted to reduce the amount of parking.

Click to enlarge