Hempstead General Hospital is a four-story former health care facility built in the 1950's. Now, no longer in use, the Village of Hempstead required a present value of the building for tax purposes. For the purpose of the assessment and the needs of the Village, B. Thayer Associates treated the present value of the building as a fixed asset survey.
By reducing the former hospital to its essential elements of steel, brick and mortar; B. Thayer Associates successfully estimated the present material value of the building. From the available drawings, we determined the quantities of structural steel, concrete, rebar steel, masonry, and roof and floor decking where applicable throughout its years of renovations and expansions.
We then estimated the present material cost of the items listed above. The present material cost was used for determining the shell value of the former hospital. Since the building was built in the 1950's, additional research was needed to identify outdated structural steel shapes that were utilized. A search for historical steel members was conducted with the help of the American Institute of Steel Construction. The historic shapes and members were analyzed based on their elemental characteristics and compared to present day shapes and members to determine a material value.
All the material data and cost data was successfully interpolated into present day value utilizing future value economic formulas and historic economy inflation values. The result was a present day shell value of the now vacated building, utilized to determine its present day tax value.
Hempstead General Hospital
Location: Hempstead, NY
Client: Village of Hempstead