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Default per-sq-ft cost estimate for basement renovation

All,

We're refinishing a basement room. 240 ft^2. We are asking the
contractor to replace 4 windows, one with a large casement egress
window. This will require cutting through the foundation blocks to
enlarge the opening and related excavation outside. In addition, we
are asking the contractor to frame the room, put up a vapor barrier &
insulation, do the electrical (about 6-8 recessed lights) and drywall
(ceiling and walls), and trim it out. He will put in built-in shelving
/ window seat / cabinets along one short wall. Finally, he will
install a floating hardwood floor over a portion of the room (about 80
ft^2). We will paint the room. This guy has worked for us before,
doing a great bathroom job. What would a reasonable per-sq-ft figure
be? We got an estimate which seems really high to us.

Thanks,
D. Hill (central PA)