Assume you have a client with a requirement for a building with 138,000 SF located in the Gowanus, Brooklyn, NY. Total hard and soft costs are $241.5/SF. You are trying to achieve an unleveraged yield of 6.0%. The client is willing to pay a rental rate of $35.0/SF/Yr. Assume a building to land coverage ratio of 50%. At what price will you pay for the land in terms of $/SF of Land Area and achieve your target yield? 117.69 170.69 230.89 301.21