Hard Construction (88,111 SF × $300/SF)$26,433,300
Subterranean Parking (109 spaces × $70,000)$7,630,000
Construction Documents — A/E (~$22/SF) ⚑$1,900,000
Permit & Impact Fees — So. Pasadena ⚑$1,700,000
Total Development Costs$37,663,300
Total Cost / SF$427.45
Total Cost / Buildable Unit$710,628
⚑ $3.6M of soft costs now modeled — full A/E construction documents (~$1.9M) plus South Pasadena permit & impact fees (~$1.7M, incl. the Jan 2026 Level 1 school fee of $5.38/SF). This is the verifiable floor; it does not yet carry legal, title, builder's-risk insurance, developer fee/overhead, marketing, or design contingency. Realistic all-in soft costs for a 53-unit for-sale condo run $5M–7M+ — see the soft-cost sensitivity in Section 07. The four city-specific fees (plan check, water, sewer, park in-lieu) should be confirmed at the So. Pasadena Community Development / Public Works counter.
Gross Sellout (53 Units)$59,190,000
Cost of Sale (5%)($2,959,500)
Net Profit From Sale (Pre-Land)$56,230,500
Net Profit From Sale represents gross sellout less selling costs only — before deducting land price, development costs, and construction financing carry, which are isolated in the land residual analysis (Section 07).
