Commercial Develop Bridge Loan 602
Type: Multi-Family
Target: $1,000,000
Annual Return: 8.00%
Min-invest Amount: $50,000
Duration: 6-12months
Project Complete
This is an opportunity to invest in an ambitious on-going land development project in Sunset Park, Brooklyn. The borrower is seeking a $3 million ( including $1 million listed on CF) short-term capital to extend the process time frame for its mortgage loan from bank. Investors are expecting to receive an estimated annual return rate at 8% (simple interest) within the term. Loan term 6-12 months. The bridge loan is secured by property guarantee, corporate guarantee, and personal guarantee.
Investors are expecting to receive an estimated annual return rate at 8% (simple interest) within the term. Loan term 6-12 months. The bridge loan is secured by property guarantee, corporate guarantee, and personal guarantee.
The plan is to create a fun shopping experience like Chelsea Market for the residents in Sunset Park and its nearby neighborhoods.
Investors are expecting to receive an estimated annual return rate at 8% (simple interest) within the term. Loan term 6-12 months. The bridge loan is secured by property guarantee, corporate guarantee, and personal guarantee.
The plan is to create a fun shopping experience like Chelsea Market for the residents in Sunset Park and its nearby neighborhoods.
- Property: Mixed-use development
- Location: 8th Ave, Sunset Park, Brooklyn
- Sq.Ft. of Property (Before development): 158,311 Sq.Ft.
- Sq.Ft. of Property (After development): 1,215,022 Sq.Ft.
- Buildable Area: 759,299 Sq.Ft.
- Architecture and Co-developer: Raymond Chan Architect P.C.
The borrower is an experienced land developer in the local market, have designed the developed countless projects in the Great New York area over the past three decades, architect and land developer Raymond Chan is a co-developer of the project.
Sunset Park is one of New York’s hidden treasures, it’s the microcosm of the Brooklyn neighborhood that includes Industry City and the waterfront. Industry city is the new “it” place and is listed on top 10 trends for NYC’s office space in 2015.
Sunset Park grows with a diverse population, nearly one-thirds of the the population is Asian, mostly Chinese, 8th Ave Brooklyn Chinatown is the fourth largest Chinatown in the U.S., even overshadows Manhattan.
Sunset Park grows with a diverse population, nearly one-thirds of the the population is Asian, mostly Chinese, 8th Ave Brooklyn Chinatown is the fourth largest Chinatown in the U.S., even overshadows Manhattan.
PPM (Only available to accredited investors)
Subscription Agreement (Only available to accredited investors)
Subscription Agreement (Only available to accredited investors)
Operating Agreement (Only available to accredited investors)
Appraisal (Only available to accredited investors)
Appraisal (Only available to accredited investors)