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Condominium Construction Loan 607

Brooklyn, NY
7.00% - 7.50%
Annual Return

COMPLETED
Investment Summary

· Investment Type: Condominium Construction Loan (First Lien)

· Total Investment: $800,000

· Project Total Cost: $3,100,000

· Minimum Investment: $20,000

· Investment Term: 12-18 Months

· Est. Annual Return: 7% - 7.5%

· Payment of Interest: Every 6 Months in Advance

· Loan to Value: 25%

Property Overview

 

This project is located in the area of Gravesend, Brooklyn. 3 minutes walking distance to N, Q & W train, which compress the commuting time to Manhattan within 25 minutes. The Project is in a densely populated, blooming upscale urban community with easy access to Calvert Vaux Park & Coney Island Beach. Gravesend's earliest non-native settlers were predominantly English and Dutch. This area has been home to a growing Chinese community for the past a few years.

· Number of Stories: 6

· Gross Floor Area (Basement Excluded): 8,200 SF

· Lot Size: 2,050 SF

· Total Unites: 11 unites

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