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Condo Development Land Loan 608

Corona, Queens
7.00% - 7.50%
Annual Return

COMPLETED
Investment Summary

· Investment Type: Land Acquisition Loan (First Lien)

· Total Investment: $1,800,000

· Land Total Cost: $3,000,000

· Minimum Investment: $50,000

· Investment Term: 6-12 Months

· Est. Annual Return:7% ~ 7.5%

· Payment of Interest: Every 6 Months in Advance

· Loan to Value: 60%

· Closing Date:  Feb 1 2018

Total land cost is $3,000,000, including $1,200,000 from developer and $1,800,000 investment amount. The investment term is only 6 months, and developer have option for another 6 months extension. After land closing, developer will apply for construction loan, and prioritized pay back CrowdFunz investor upon the loan approval.
CrowdFunz holds the first mortgage lien to the land. Developer also signs the personal guarantee contract to further control the risk of investment. High capital safety, low project risk.

Property Overview

This project is located in the area of Corona, Queens, NY. 6 minutes walking distance to F train, which compress the commuting time to Manhattan within 30 minutes. 10 minutes driving to Flushing downtown, New York's largest Chinese community.

The project is in a densely populated, blooming upscale urban community with easy access to Flushing Meadows-Corona Park, the largest park in Queens. As a historical multicultural community, Europeans、Asians and Hispanics chose to live here. In recent years, Corona has become a new hot zone for Chinese investors as it directly next to Flushing. 

The old building has been demolished, the land are ready for construction. The architecture design drawing and working Permit have been approved by DOB and DOH.

Hightlights

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