Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consider a mixed-use property in Astoria, Queens with 1,650 square feet of rentable space. The annual rent in 2023 you expect to collect is $10/sq
Consider a mixed-use property in Astoria, Queens with 1,650 square feet of rentable space. The annual rent in 2023 you expect to collect is $10/sq ft leased. You expect that the vacancy rate in 2023 will be 4%. and that you will incur collection losses on additional 0.5% of the square feet. What will be your effective gross income (EGI) in 2023? State your answer as a number rounded to the nearest cent (e.g. if you get $13.57654, write 13.58)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started