8.50 - 9.00%
· Investment Type：Land Loan Refinance
· Investment Amount：$6,000,000
· Minimum Investment：$50,000
· Investment Term：18-24 Months
· Est. Annual Return：8.5% ~ 9%
· Payment of Interest：Every 6 months in advance
· Closing Date: TBD
The property is in 8th Ave, Brooklyn. Developer purchased the land in May 2014 at $51,500,000, currently there is a first mortgage of $10,500,000 on the property. After the current mortgage paid off by part of this loan, Crowdfunz and cooperative financial institutions would hold the lien to this property together.
Interest Distribution Table:
The project is in a densely populated, blooming upscale urban community. The property is parking lot. After the project architecture plan approved, FAR be 4.80 with total buildable area of 771,360 SQFT.
Right next to subway, 30 minutes commuting to Manhattan. 10 minuets driving to Manhattan.
· Gross Floor Area: 771,360 SQ. FT
· Lot Size: 160,700 SQ. FT