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Flushing, Queens, NY
8.0 - 8.5%
Total Investment: $2,500,000(Maximum) *
Expected Annualized Return: 8.0% - 8.5% *
* First round raising up to $1500,000, expected Closing Date: Aug 15th, 2019 or After Fundraising Mission Accomplished.
* Second round raising up to $1000,000, expected Closing Date: Sep 15th, 2019 or After Fundraising Mission Accomplished.
Investment Type: Bridge Loan (Equity Pledged) *
Minimum Investment: $10,000 per Membership Unit
Investment Duration: 12 - 18 Months
Payment Period: Semi-annual Payment in advance
* According to Appraisal report by CBRE, the hotel’s value was estimated $17.1M in 2016, expected today’s value is over $22M.
* Subscribers will enjoy 8.5%/year expected annual return for investment on & above $300,000. Crowdfunz reserve the right of final explanations.
* Bridge Loan 808 will take 100% of developer’s equity as collateral when proceed to closing.
Address: 28-66 College Point Blvd NY 11354
Area: Flushing, Queens, NY
Land Size: 23,600 SFT(216*141 FT)
Building Size: 29,175 SFT
Construction time: Land acquired in 2001, starting operating since 2005.
LTV: 60% *
- The project is located in Flushing, Queens, New York City. The developer purchased the land in 2001 and the hotel was completed and operational in 2005. The land acquisition time is early, and the land appreciation trend is good. After the completion of the hotel, the famous chain hotel has been operating smoothly for many years, and the annual operating income is growing.
- The project is a 5-story comprehensive 3 star hotel with a total of 88 rooms currently operated by Marriott Hotel Group. The average room price is $150-$190 per night. It is located in Flushing, close to LGA and JFK airport. It is equipped with a multi-functional lobby that combines entertainment, entertainment and leisure. It provides valet parking service.
- 10 minutes drive to the LGA and Flushing Center, transfer to 7 Train to Manhattan and LIRR to Long Island, and 30 mins drive to JFK.
* According to ICBC's loan records, the total commercial loan for the project in 2016 was US$11.3 million, and the current unpaid loan amount is $10.5 million.
According to CBRE's 2016 Appraisal report, the hotel was valued at $17.1 million at the time, and the hotel is currently estimated at more than $22 million.