Real Estate Math
A building has 10,000 square feet of rentable space. It is 90% occupied. The rent is $25 per square foot per year. What is the effective gross income from rent?
A$210,000
B$225,000✓ Correct
C$240,000
D$250,000
Explanation
Occupied space = 10,000 x 90% = 9,000 sq ft. EGI from rent = 9,000 x $25 = $225,000.
Related New York Real Estate Math Questions
- A Queens property is assessed at $340,000. The county tax rate is $9 per $1,000 and the city rate is $11 per $1,000. The total annual property tax is:
- A commercial property has an annual effective gross income of $150,000 and operating expenses of $60,000. What is the net operating income (NOI)?
- A New York seller nets $487,500 after paying a 5% commission. What was the sale price?
- A mortgage of $410,000 at 5.5% annually. The first month's interest is:
- A Long Island property sells for $485,000. The listing broker charges 5.5% commission, split 50/50 with the buyer's broker. Each broker's firm receives:
- A New York property was purchased for $300,000 and sold 3 years later for $375,000. What is the percentage gain?
- A New York broker sold a property for $525,000 and earned a 6% commission. The listing broker and buyer's broker agreed to split the commission 55%/45%. How much did the buyer's broker receive?
- A 1,500 sq ft apartment in Manhattan rents for $85 per sq ft per year. The monthly rent is:
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →