NOMA Flats Q2 23 Report
This content was created by Richard Kenny. This content was uploaded by Richard Kenny. This is a PDF titled "NOMA Flats Q2 '23 Report.pdf" (created_time: 2024-10-04T15:37:20.329000) — a quarterly asset update for the NOMA Flats property prepared by Team Falcon Capital. The report provides a Q2 2023 market and property update (mentions recent Fed/SOFR context), key operating metrics (94.2% occupancy; average monthly collections $40,987; average monthly expenses $25,590), CapEx and repair line items (unit repairs, HVAC, LVP flooring, pool renovations), completion and leasing readiness of a previously flooded unit, landscaping and gate repairs, plans to install separate water shut-offs and meters (estimated $26k cost, ~$10k/year NOI benefit), and a note that the loan interest-only period is ending. It also covers leasing activity stats for May 2023, the payment/distribution process integration with Thread Bank and Plaid, the upcoming distribution (1.25% this distribution / 5% annualized with target to return to 6%), and provides contact information (Team Falcon Capital; Richard@falconcapre.com).
Questions this document answers
94.2% occupied.
$40,987 per month.
$25,590 per month.
Unit 31 light fixture $219.66; Unit 30 paint with ceilings $2,172.23; Unit 29 paint with materials $1,945.59.
Unit 29 LVP floor replacement $3,133.64; Unit 1 HVAC condensing unit replacement $4,050.00.