Clinton Housing Development Company (CHDC)
Main Page Main Page Main Page Main Page Main Page Main Page Main Page Main Page
main page Who We Are What We Do The Neighborhood Main Page
Main Page Housing Development Staff & Board Press Links Main Page

500 West 42nd St. (East Wing)

Distribution Demographics
One Bedrooms 15 Existing Tenants 25
Two Bedrooms 5 Total 25
Three Bedrooms 5
Total 25
*2 commercial spaces not included

Development Costs Financing
Acquisition - Private Financing 3,600,000
Soft Costs 599,201 501 W. 41st St. Associates, LLC 2,652,863
Construction 5,600,000 Total 6,252,863
Capital Reserves 53,663
Total

6,252,863

Construction Cost per Unit: 224,000
Total Development cost per unit: 250,115

Annual Expense Annual Income
Operating 158,122 Rental Income 206,760
Commercial Income 36,000
West 42nd Subsidy -
Interest Income 680
Vacancy Loss (12,172)
Net Revenue

231,268

Surplus/Deficit 73,146
Operating Coverage 146%