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
554 West 53rd St.

Distribution Demographics
Studios 10 Existing Tenants 6
One Bedrooms 18 Moderate Income 18
Two Bedrooms 5 Resident Manager 1
Total 33 Resident Super 1
*1 commercial space not included

Total 26
Development Costs Financing
Acquisition 1 Neighborhood Revitalization Program 2,116,557
Soft Costs 1,012,046 LIHTC Equity 2,591,018
Construction 7,105,000 Historic Preservation Tax Credits 1,600,000
Capital Reserves 519,679 Total 6,307,575
Total

8,636,726

Construction Cost per Unit: 215,303
Total Development cost per unit: 261,719

Annual Expense Annual Income
Operating 192,777 Rental Income 234,646
Commercial Income 7,850
Interest Income 4,751
Vacancy Loss (12,362)
Net Revenue

234,885

Surplus/Deficit 42,108
Operating Coverage 122%