500 West 42nd St. (East Wing)
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Distribution |
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Demographics |
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One Bedrooms | 15 |
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Existing Tenants | 25 |
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Two Bedrooms | 5 |
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Total | 25 |
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Three Bedrooms | 5 |
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Total | 25 |
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*2 commercial spaces not included
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Development Costs |
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Financing |
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Acquisition | - |
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Private Financing | 3,600,000 |
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Soft Costs | 599,201 |
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501 W. 41st St. Associates, LLC | 2,652,863 |
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Construction | 5,600,000 |
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Total | 6,252,863 |
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Capital Reserves | 53,663 |
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Total
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6,252,863
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Construction Cost per Unit: 224,000 Total Development cost per unit: 250,115
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Annual Expense |
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Annual Income |
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Operating | 158,122 |
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Rental Income | 206,760 |
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Commercial Income | 36,000 |
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West 42nd Subsidy | - |
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Interest Income | 680 |
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Vacancy Loss | (12,172) |
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Net Revenue
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231,268
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Surplus/Deficit | 73,146 |
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Operating Coverage | 146% |
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