BDC resubmission · September 2026
Development & construction budgets
Hard, soft and financing costs by parcel. The GC fee, escalation and contingency are shown separately.
- 1818/1820 hard costs run ≈$343/GSF all-in. Benchmarks: DHCD rehab cost limits $202–$277/SF before contingency, and 1816's actual bids.
- Escalation 6%; contingency 12.5% (10% on 1816's already-bid scope).
- GC fee 8% (related party, disclosed, below the DHCD 17% cap).
- Soft costs: A&E 7%, permits 1.5%, legal 1%, builder's risk 1.2%, plus reports, marketing and a 5% contingency.
- Developer fee 8% on Phase 2 only, 50% deferred.
Uses of funds by parcel
| Use | 1816 | 1818 | 1820 | Total |
|---|---|---|---|---|
| Acquisition | $300,000 | $150,000 | $3,000 | $453,000 |
| Closing & transfer | $36,052 | $7,500 | $7,500 | $51,052 |
| Work completed to date | $797,000 | $0 | $0 | $797,000 |
| Carrying costs to date | $230,744 | $0 | $0 | $230,744 |
| Hard costs (GC fee, escalation, contingency) | $483,648 | $2,374,617 | $2,159,731 | $5,017,996 |
| Soft costs | $31,000 | $284,901 | $260,758 | $576,659 |
| Furniture, fixtures & equipment | $82,500 | $82,500 | $82,500 | $247,500 |
| Financing costs | $35,151 | $80,243 | $72,982 | $188,376 |
| Operating reserve | $75,686 | $81,485 | $74,007 | $231,178 |
| Developer fee (50% deferred) | $0 | $232,300 | $211,998 | $444,298 |
| Total uses | $2,071,780 | $3,293,546 | $2,872,477 | $8,237,803 |
Construction budget
| Line item | 1816 | 1818 | 1820 | Total |
|---|---|---|---|---|
| 1816 — remaining scope | ||||
| Commercial fit-out & façade (BRNI advance scope) | $125,000 | $125,000 | ||
| Residential completion: 4F interior framing, drywall, finishes, MEP trim | $152,000 | $152,000 | ||
| Fire sprinkler (Fuentes, NFPA 13R) + fire alarm & backflow | $45,000 | $45,000 | ||
| Gut rehab by trade division (1818 existing / 1820) | ||||
| General conditions, site protection & dumpsters | $35,150 | $67,725 | $102,875 | |
| Selective demolition & debris removal | $35,150 | $67,725 | $102,875 | |
| Structural repairs, framing & fire blocking | $84,360 | $162,540 | $246,900 | |
| Masonry (interior), stairs & fire-rated assemblies | $35,150 | $67,725 | $102,875 | |
| Roofing & sheet metal | $28,120 | $54,180 | $82,300 | |
| Windows & exterior doors (CHAP-compliant wood) | $49,210 | $94,815 | $144,025 | |
| Plumbing (stacks, risers, fixtures, water heaters) | $77,330 | $148,995 | $226,325 | |
| HVAC (ductless / split systems, ventilation) | $70,300 | $135,450 | $205,750 | |
| Electrical service, distribution, lighting | $70,300 | $135,450 | $205,750 | |
| Insulation & drywall (1-hr rated) | $63,270 | $121,905 | $185,175 | |
| Flooring, paint, trim & millwork | $63,270 | $121,905 | $185,175 | |
| Kitchens & baths (cabinets, counters, tile, appliances) | $77,330 | $148,995 | $226,325 | |
| Interior doors, hardware, specialties & closets | $14,060 | $27,090 | $41,150 | |
| Premium flooring — Brazilian cherry or imported porcelain (upgrade) | $30,140 | $41,250 | $42,900 | $114,290 |
| Smart-home & premium appliance package | $27,000 | $27,000 | $27,000 | $81,000 |
| Private rear decks 18′ × 8′ | $41,040 | $41,040 | $41,040 | $123,120 |
| Electric outdoor cooking stations | $19,500 | $19,500 | $19,500 | $58,500 |
| 1818 vertical addition (3rd & 4th floors) | $845,000 | $0 | $845,000 | |
| Historic façade restoration | $65,000 | $90,000 | $155,000 | |
| Commercial white-box & storefront | $45,000 | $45,000 | $90,000 | |
| Fire sprinkler + alarm + backflow | $32,000 | $32,000 | $64,000 | |
| Environmental abatement allowance | $25,000 | $25,000 | $50,000 | |
| Direct construction subtotal | $439,680 | $1,843,790 | $1,676,940 | $3,960,410 |
| Cost escalation to midpoint | $0 | $110,627 | $100,616 | $211,244 |
| GC overhead & profit (Tyjuan Amor LLC, disclosed) | $0 | $156,353 | $142,205 | $298,558 |
| Hard cost contingency | $43,968 | $263,846 | $239,970 | $547,784 |
| TOTAL HARD COSTS | $483,648 | $2,374,617 | $2,159,731 | $5,017,996 |
Furniture (FF&E, outside hard costs): 1816 $82,500 · 1818 $82,500 · 1820 $82,500.
Soft costs: 1816 $31,000 · 1818 $284,901 · 1820 $260,758. The live version is on the Construction_Budget tab of the Excel model.