Thursday, October 30, 2008

add 3% for our fees

NY Project

add 3% for our fees

 

10% Cap

 

$43M Purchase Price

 

$37M in assumable financing. 6.15%, 30 year amortization, 10 year term

 

22 Buildings

 

683 Units

         

 




























































































 

 

 

 

Annual

Est.  

Est.  

# of Pckg.

# of Bldgs.

# of units

Elv. / Walk

Rent

Expenses

NOI

  OCG 1

6 buildings

259 units

1 Elv.

$2,688,444

$1,233,332

$1,435,112

  OCG 2

4 buildings

112 units

Walk

$1,200,442

$508,907

$691,535

  OCG 3

1 building

42 units 

Elv.  

$435,68

$211,492

$224,146

  OCG 4

1 building

42 units 

Elv.  

$447,736

$216,626

$231,110

  OCG 5

5 buildings

90 units

Walk

$1,032,686

$423,634

$609,052

  OCG 7

4 buildings

106 units

Walk

$1,008,446

$373,478

$634,968

  OCG 8

1 building

32 units*

Walk

$392,512

$131,223

$261,289

 

22

683

 

$7,205,904

$3,098,692

$4,107,212

*1 commercial unit

 

 

 

 

 

Note:  Some buildings are conjoined

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