Renovating in NYC

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After the countless open houses, deals and negotiations; you have finally found the perfect home. A home where you can envision how you will make this space your own with the perfect Family Room, state-of-the-art chef’s Kitchen and blissful Master Bath. This is all just a simple plan away; or so you think. The key to your renovation is to stay engaged. Be prepared and have back-up plans but also take a step back and have faith and trust the professionals you’ve hired.

The renovation process in NYC is just that; a process. When contemplating a renovation, the first thing you should do is building management to retrieve an Alteration Agreement. This agreement will inform you of any/all rules pertaining to alterations within the building, such as:

1.) Renovation seasons – some buildings only permit construction when the building is more empty; typically during the summer months (July 1-Sept. 1) on a first-come-first-serve basis. The sooner you hire an architect and submit your plans to the board for approval, the better your chances are of moving ahead with your project this season.

2.)  Black-out periods – be mindful of what holidays prohibit work in your building. Account for these days in your schedule as building’s typically have a deadline for completion with a daily fine for every day you are past the substantial date of completion. 

3.) Wet-over-Dry restrictions – if you have plans of relocating your bathroom or kitchen, many buildings prohibit the relocation of such wet rooms above your downstairs neighbor’s living room or bedroom.

4.) Working permits – most apartment renovations in NYC require a work permit. The exception to this rule are ordinary repairs which include cosmetic upgrades (replacing plumbing fixtures or kitchen cabinets in the same locations). Once you intend on demolishing a wall, building a new wall or simply moving your kitchen sink to a different location, you will need a permit. And, if you need a permit, you’ll now need a licensed architect.

SELECTING PROFESSIONALS

The most common way to go about this is by the traditional word-of-mouth. Follow the recommendations of colleagues, friends and family. Once you have hired your architect, hiring your contractor is next. Of course, any recommendation is invaluable; however, architects typically have a list of contractors they like working with. Most buildings will also have a published list of approved contractors those of which who have done frequent work in the building and are familiar with the alteration rules.

CONTRACT NEGOTIATIONS

In process of hiring your contractor; you may have several contractors who are in possession of your plans in efforts to competitively price out your project. It is very important to have a complete set of architectural drawings and specifications for every aspect of the project before negotiating a contract. Eliminate the possibility of allowances. Allowances in a contract can leave the client susceptible to unpredictable change orders.  In most cases, the terms of the final agreement will be set out in a standard A.I.A. (American Institute of Architects) and your contractor will bill periodically based on the percentage of the of the job completed. Contractors will also submit a construction schedule and conduct weekly site visits to ensure the project progresses according to the schedule. 

BOARD APPROVAL

Before starting work, you will need secured approval from the co-op/condo board. Providing plans, insurance certificates, licenses etc. must be submitted to the managing agent. Your plans will then be reviewed by another architect retained by the building to ensure they comply with building rules and building code requirements. 

WORK PERMIT

Once you have approval from the board, your architect can file and application with the Department of Buildings for a work permit. For most interior renovations, your permit can be obtained within 24 hours. 

FINISHING UP

Upon completion of major work, minor fixes such as paint touch-ups are typically required. Nearing completion, a punch-list meeting will be held to point out any items needed finishing by the contractor. Working under permits also require electrical and plumbing inspections before requesting a Certificate of Occupancy (Letter of Completion) from the Department of Buildings. Once you have that document in hand, there’s just one thing left to do: plan the unveiling party

6,000+ New Apartments set for Brooklyn in 2016

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Around almost every corner in Brooklyn, a new development is rising to bring more apartments to the city’s most populous borough. So it should come as no surprise that Brooklyn is leading not only New York City, but the rest of the country in the construction of new apartments.

According to Forbes, Brooklyn is expected to gain 6,073 apartments in 2016, which is a nearly unfathomable gain on the 979 apartments that hit the market in the borough this year. And 2017 is already off to a running start, too: 2,001 new apartments are already anticipated. Here’s another mind-boggling number to top all of that off: as of October, the borough’s average rent, minus concessions, was a whopping $3,823.00.

All these new apartments are needed, since existing apartments were 97.4% occupied in October and the demand keeps growing. October’s average effective rent in Brooklyn was 4.8% higher than the October 2014 average. Rental revenue impact was 5.4% more than the year before.

Brooklyn’s apartment surge is just the largest part of a New York-area apartment boom in which 24,575 new units have been identified to come to market next year. The metropolitan division, which includes Jersey City and White Plains in addition to the city, is expected to receive the most new apartments in 2016, surpassing Houston and Dallas, which have traded the top spot since 2013. The New York City area as a whole is expecting nearly 25,000 new apartments in 2016.

Capital Craftsmen is Emerging..

We are excited to share with you our brand new, redesigned website. Our fresh and modern look has been “Distinctively Crafted” to best suit our viewers. Our main goal was to put forward the work we have proudly completed and to generate a user-friendly site with simple navigation to create the best web experience for our viewers. None of this would have been possible without the whole team at e9 Digital for making our vision a reality. Happy Browsing!

Project thumbnails

Our website also features direct links to our social media accounts. Follow us for daily updates!

Twitter@CAPITALcraft

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Instagram@capitalcraftsmen

PinterestFollow Us!

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You may actually see us traveling through Manhattan in our brand new truck.

Special thanks to Bayard Promotions for their graphic services and wrapping our truck with our distinctive logo and company information visible from all sides. 

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In the midst of all the new additions, we are also excited to share that we are beginning two new renovation projects on the Upper East Side.

Keep a look-out and check back in with us as we will share the final products with you here on our website.

Paul McCartney’s $15.5 Million Central Park View

 

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A duplex penthouse at 1045 Fifth Avenue, a bronze-glass apartment building in a neighborhood where limestone and brick prewar co-ops are more the norm, sold to Paul McCartney and his wife, Nancy Shevell, for $15,500,000. The monthly carrying costs for the 10-room aerie, PH15, near 86th Street, are $12,935.00.

The former Beatle and his wife paid the full asking price for the apartment, which entered the market for the first time in February. A big selling point, undoubtedly, was the panoramic view across the Central Park reservoir, visible on each level from more than 800 square feet of wraparound balconies reached through glass sliders. But Mr. McCartney and Ms. Shevell will likely have their work cut out for them: Little has been done to the unit, which, according to the listing, has five bedrooms, five full baths and one half bath. The couple can use the apartment as a part-time residence — unlike many of the co-ops on Fifth and Park Avenues, this one permits pieds-à-terre.

Here is a look inside the multi-million dollar penthouse:

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