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Condo Development Equity 801

Brooklyn, NY
Annual Return

Investment Summary
CrowdFunz along with Any Realty LLC (Sponsor) are offering the opportunity to invest in the acquisition and ownership of a condo, Aster Garden in Ocean Avenue, Brooklyn. The primary objective of this fund is to buy the land, demolish old house and build 10 units , 6 floors condo with refined decoration and sell the property within 3 years.

It is estimated that the total cost would be $3,150,000, including bank loan $1,650,000, equity investment $1,500,000 and it is expected to benefit $1,450,000 from it. The developer will invest $825,000(55%) and CrowdFunz along with all the investors will contribute 45%, which is $675,000 investment. CrowdFunz will invest $75,000, and share the risk with investors, on the other hand, CrowdFunz will charge investors 5% of the management fee and 15% of the profit sharing after the project is completed.

Property Overview
  • Location: 2491 Ocean Ave, Brooklyn, 11229
  • Block & Lot: Brooklyn, Block 7325, Lot 67
  • Lot Area: 25 x 100 Ft
  • Zoning: R6A Zoning (FAR 3.0)
  • Plan: 6 stories, 8,250 Sq Ft building, 10 Units Condo (1 BR Apt)
  • Architect: Tan Architect

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