Spring 2015 Edition

NEW YORK CITY CONSTRUCTION COSTS ON THE RISE

New York City construction costs increased by nearly 5 percent in 2013 and escalated an additional 5 percent in 2014, according to a New York Building Congress analysis of multiple cost indices as well as interviews with representatives of some of the City’s largest construction firms. By comparison, U.S. construction costs increased by approximately 2.5 percent in 2013 and topped 3 percent in 2014.

While the recent plunge in oil prices could lower the cost of petroleum-based products and delivery costs, the construction company representatives expressed concern that costs could rise further given that certain essential trades, such as curtain wall and cast-in-place concrete, are reportedly running out of capacity.

The cost indices examined by the Building Congress are produced by ENR, Rider Levett Bucknall (RLB), RS Means, Turner, and BLS, and each measures the percentage change in construction costs from one year to the next. As part of this analysis, the Building Congressused an average of all the indices...

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TAKE TWO! SCHIMENTI'S ANNUAL MEETING GOES ON DESPITE SECOND SNOW STORM SCARE!

At Schimenti’s 2015 Annual Meeting held at the Doral Arrowwood Conference Center in Rye Brook, NY participants focused on three main objectives throughout the day: Safety, Planning and living the Schimenti brand.

President, Matthew Schimenti discussed to over 175 attendees including Schimenti employees, subcontractors and business partners; successful 2014 initiatives, 2015 priorities, business opportunities and economic forecasts throughout 2017.

Keynote Speaker, Rick Barrera, Author of “Over Promise & Over Deliver – Secrets of Unshakable Customer Loyalty,” took the stage and used his extraordinary and passionate speaking ability in discussing his unique philosophy to brand building. Barrera offered powerful and easy to apply lessons for individuals at all levels to create unmatched customer loyalty...

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EMPLOYEE PROFILE - MOEED MALICK

A member of the Schimenti Construction team for little over a year, Moe Malick has become an important part of our growing Estimating department. Moe has estimated many of our prestigious projects, including Victoria’s Secret, Nordstrom Rack, SAKS Fifth Avenue OFF 5th and Hostos Community College, part of the CUNY system.

“What I enjoy most about working here is being part of a team that builds amazing projects that get everyone talking!” said Moe. “I know I will be able to see the results of my work with my own eyes for years to come...”

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