This occupancy, together with occupancy 995 (Interior Space, Luxury Apartment), allows you to individually price the shell and the tenant improvement costs for an apartment (in separate sections of the report). This provides an alternative to occupancy 984 Luxury Apartment (High Rise), which includes both the shell and tenant improvement costs.
High-rise luxury apartment shells are structures with three or more floors of multiple dwelling units, typically owner or time-share occupied. Each dwelling unit consists of its own separate living area and kitchen facility. Normally, shell structures over three stories have elevators, but this depends on the height of the building and the need for transportation to the upper levels. These shell structures have a lobby area, hall access to dwelling units and some type of stairway for fire exit. These shell structures include common area finishes only, which are about 10%. Although apartments built as co-ops, condominiums, or time-shares sometimes are required by building and zoning codes to have certain items not required for typical rental units, basically, "condominium" is a type of ownership and not a type of construction and the luxury apartment costs are valid.
The following are not included in the costs: Appliances, fireplaces, canopies, balconies, swimming pools, yard improvements and any developers' or soft costs related to a type of ownership such as condominium.
Availability of Elevators by Area for this occupancy: Yes
Marshall Valuation Service sections: 11 and 41.
Occupancy Availability: Commercial Estimator only.
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|
|
|
Class |
|
|
|
Quality |
A |
B |
C |
D |
S |
|
Low |
60 |
60 |
55 |
50 |
-- |
|
Average |
60 |
60 |
55 |
50 |
-- |
|
Good |
60 |
60 |
55 |
50 |
-- |
|
Excellent |
60 |
60 |
55 |
50 |
-- |
In addition to being an aid in selecting a building’s rank, the following indicates what is included in the base shell cost. Note that HVAC costs have been included in the total with the finished build-out space in occupancy 995 (Interior Space, Luxury Apartment). You can allocate a prorated amount back to the shell cost if needed by selecting the appropriate HVAC component and entering a percentage of the total floor area, typically 15% to 25%.
Class A (Fireproof Structural Steel Frame):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Average |
Good metal and solar glass, face brick, precast concrete panels, EIFS |
Plaster, ceramic tile carpet, some vinyl and fine hardwood, good entry & lobby |
Luminous lobby ceiling, good core lighting, service fixtures |
None |
|
Good |
Best metal or stone, brick or block backup, solar glass |
Plaster, best veneers, best marble and carpet, top lobby finishes |
Luminous lobby ceiling, excellent core lighting, finest service fixtures |
None |
Class B (Reinforced Concrete Frame):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Average |
Good metal and solar glass, face brick, precast concrete panels, EIFS |
Plaster, ceramic tile carpet, some vinyl and fine hardwood, good entry & lobby |
Luminous lobby ceiling, good core lighting, service fixtures |
None |
|
Good |
Best metal or stone, brick or block backup, solar glass |
Plaster, best veneers, best marble and carpet, top lobby finishes |
Luminous lobby ceiling, excellent core lighting, finest service fixtures |
None |
Class C (Masonry Bearing Walls):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Average |
Stone, brick, metal and glass, individual design |
Plaster, ceramic tile carpet, some vinyl and fine hardwood, good entry & lobby finishes |
Luminous lobby ceiling, good core lighting, service fixtures |
None |
|
Good |
Good masonry and glass, good ornamentation |
Plaster, good veneers, vinyl, ceramic tile/carpet, paneling, fine hardwood, good entry & lobby finishes |
Luminous lobby ceiling, excellent core lighting, good service fixtures |
None |
|
Excellent |
Best stones, metal, solar glass |
Plaster, best veneers, best marble and hardwoods, ceramic, carpet, finest entry & lobby finishes |
Luminous lobby ceiling, excellent core lighting, finest service fixtures |
None |
Class D (Wood or Steel Framed Exterior Walls):
|
Quality |
Exterior Walls |
Interior Finish |
Mechanicals |
HVAC |
|
Average |
Good stucco or siding, brick and stone trim |
Plaster, ceramic tile carpet, some vinyl and fine hardwood, good entry & lobby finishes |
Luminous lobby ceiling, good core lighting, service fixtures |
None |
|
Good |
Good EIFS or sidings, good ornamentation |
Plaster, good veneers, vinyl, ceramic tile/carpet, paneling, fine hardwood, good entry & lobby finishes |
Luminous lobby ceiling, excellent core lighting, good service fixtures |
None |
|
Excellent |
Best EIFS, stone trim |
Plaster, best veneers, best marble and hardwoods, ceramic, carpet, finest entry & lobby finishes |
Luminous lobby ceiling, excellent core lighting, finest service fixtures |
None |