In a five-page report, Andrew Ashforth, co-chief executive officer of the real estate firm The Ashforth Co., examined occupancy costs over a 10-year period and then subtracted the properties' residual value from those costs. Constructing a new building on the Havemeyer site would cost $4.4 million, while purchasing an existing 30,000-square-foot building in town would cost $5.5 million to $6.2 million, his report said. Ashforth estimated renovation costs for the Havemeyer Building at $8.9 million and calculated the cost of renting office space at $9 million over 10 years.
Please send your comments to GreenwichRoundup@gmail.com
Current Conditions : 50.9F, Scattered Clouds - 5:04 PM EDT Mar. 24 - Temperature: 50.9°F | Humidity: 24% | Pressure: 30.01in ( Falling) | Conditions: Scattered Clouds | Wind Direction: WNW | Wind Speed: 2.5mph
11 minutes ago