Real Estate Math
A commercial lease in Manhattan is for 3,500 sq ft at $85 per sq ft per year. What is the annual rent?
A$29,750
B$297,500✓ Correct
C$350,000
D$24,792
Explanation
Annual rent = 3,500 sq ft × $85/sq ft = $297,500. Using the values given ($85), apply the appropriate formula.. The correct answer is $297,500.. This is a common calculation on the New York real estate exam.
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