Question $9(10$ points$)$

A building in Manhattan called Diagonal Campus is being sold. It contains $82,400$ square feet of rentable space. Three similar buildings nearby were recently sold:

Building A: $39,000$ square feet, sold for $$23$ million.

Building B: $55,000$ square feet, sold for $$40$ million.

Building C: $42,000$ square feet, sold for $$33$ million.

Using the Sales Comparison Approach $($SCA$),$ the approximate value of Diagonal Campus equals $ $q,$ millions.

Hint: first calculate the price per square foot for each building and then calculate the average price per square foot of three buildings.

Your Answer:

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Answer

Question $10(10$ points$)$

A building in Manhattan called Diagonal Campus is being sold.

It contains $87,700$ square feet of rentable space.

The monthly rent is $$18\mathrm{.}5$ per square foot.

The vacancy rate is $8\%.$

The Potential Gross Income $($PGI$)$ of the building per year equals $q,.$