That's a 30-year old building in Atlantic City, though. The building itself will have depreciated since then, and Atlantic City isn't a very desirable area any more. The current prices won't necessarily reflect the original construction costs.

There are some actual numbers in this Fannie Mae commentary:

http://www.fanniemae.com/resources/file/research/emma/pdf/MF...

The average costs to build 1-3 and 4-7 story apartment buildings was $192.0/ft^2 in 2017, compared to $233/ft^2 for 8-24 story buildings. I assume the square footage includes common spaces. I don't know if they attempted to control for sample biases (e.g. if taller buildings tend to be build in areas with higher labor costs).

Getting apples to apples numbers to compare can be difficult. People tend to built more stories in more desireable (read expensive) places.