NY Construction Costs Rises Nearly Double The National Average

Construction costs in Manhattan have risen 5% in both 2013 and 2014

January 16, 2015

Globest.com

According to a report from the New York Building Congress, construction costs in Manhattan rose 5 percent in 2013 and another 5 percent in 2014. The average construction costs nationwide only rose 2.5 percent in 2013 and 3 percent in 2014.

Plunging oil prices could lower the cost of petroleum-based products and delivery costs; however, the growing material costs nationally combined with certain essential trades running out of capacity could be cause for concern that costs could rise even more.

(more on the cost of construction in NY...)

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