Private school, property condition reevaluation

Nov 15, 2023

Established in 1900, the facility is an independent, coeducational, private day school in New York. EBI Consulting was engaged by the client to perform facility condition assessments to provide repair or maintenance recommendations for the property to continue in its current operation.

THE PROJECT IN NUMBERS

acres of campus

multi-story buildings

CHALLENGES

The client requested that EBI provide an Acquisition Property Condition Report (APCR) to assess three buildings ranging in size from one to three stories, totaling approximately 70,927 gross square feet and 64,037 net rentable square feet. Assessed buildings in this project included the residence for the Head of School and four faculty apartments.

SOLUTION

EBI conducted visual observations in the field, identified municipal information that could be reasonably obtained, evaluated information provided by the client, and reviewed readily available and supplied drawings and documents. Items assessed included: site conditions, structures, building envelope, building interiors, accessibility, building systems, municipal information and hazards.

SERVICES EBI PROVIDED

  • Acquisition Property Condition Report (APCR)
  • Other due diligence assistance
  • Repair itemization breakdown
  • Cost estimates

OUTCOME

EBI provided an in-depth, itemized breakdown for the items assessed, providing recommendations for repairs (both immediate and short-term), and replacement reserves. Cost estimates provided were based on quotes from contractors, EBI’s in-house acquisition database costs, EBI’s experience with costs and estimates for similar issues, data obtained from the client for items already planned, property and building types, city cost indexes, and assumptions regarding future economic condition.

Our work allowed the client to understand and plan repair and maintenance for the long-term.

Ready to transform your campus?

Contact EBI’s  team today

Stay Informed

sign up for our Quarterly U.S. CRE and Telecom Regulation Bulletin

inquiry

GET IN CONTACT