Clinton Housing Development Company (CHDC)
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501 West 51st St.

Distribution Demographics
Studios 3 Existing Tenants 2
One Bedrooms 13 Low/Moderate Income 20
Two Bedrooms 4 Total 22
Three Bedrooms 2
Total 22
*3 commercial spaces not included

Development Costs Financing
Acquisition 432,000 Private: 52/10th Associates LLC 4,555,662
Soft Costs 707,500 Total 4,555,662
Construction 3,370,500
Capital Reserves 45,662
Total

4,555,662

Construction Cost per Unit: 153,205
Total Development cost per unit: 207,076

Annual Expense Annual Income
Operating 186,388 Rental Income 214,365
Commercial Income 9,460
Interest Income 366
Net Revenue

224,191

Surplus/Deficit 37,803
Operating Coverage 120%