- Significant number of granular concepts/calculations were discussed in class and were probably new for most. "- Given the speed and density of the material covered, significant guidance is provided...

Lease NPV Assumptions Page Instructions Existing nra Spec Schack Ventures Tenant Description Percentage Rent 42nd Street Partners Bryant Park Hardware Type Office Retail NYU Property Trust $1.00/psf annually 3% Annual Increase 1 Month Upfront None Real Estate Tax Expenses ($/Amt) % Growth New (% Based) Renew (% Based) New ($/Ft) Renew ($/Ft) (1) CPI (See Note Below) (2) Yes (See Note Below) Reimbursements (Pro-rata Share) x End Leasing Commissions (%/Based/Lse Yr) Leasing Commissions ($/Ft/Lse Yr) Term (Yrs) Lease Commencement Date Homework Instructions Reimbursable Expenses 2 Months Upfront Operating & Insurance Expenses ($/Amt) Overview - Make sure to review the syllabus for proper file naming, formatting and submission process. Assignment - Significant number of granular concepts/calculations were discussed in class and were probably new for most. Size (RSF) Free Rent (# of Mos) Rent Escalation Base Rent Tenant Improvements (PSF) Leasing Commissions (2) 4% of Gross Sales in excess of natural breakpoint. Assume 2010 Gross Sales is $1,500,000 and increases by 2% annually. For modeling purposes, assume overage rent is paid monthly on prorated basis. a) Focus on Cash Flows for the following months: 7/1/2010, 1/1/2011 and 7/1/2011 for Net and Gross tenant b) Understand Expense Reimbursement calculations in Rows 20-21 and Rows 39-40. - Do not need to print and hand in. (4) Model the tenant cash flow line items for each tenant that are simple for you first (i.e, Total Base Rent, Total Fixed Steps, etc). (5) Review cell comments for hints and resources for non-standard calculations (CPI, Percentage Rent, etc) before attempting those line items. Suggested Approach (Beyond Reading Above and Printing Both Tabs) c) Use the following formula auditing tools (2007 Excel Shortcuts): (1) CPI Increase is based on Consumer Price Index-All Urban Consumers U.S. All items, 1982-84=100 - CUUR0000SA0...