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Jamaica, Queens, NY
8.0 - 8.5%
Total Investment: $4,000,000 *
* First Round: Funding Amount: $1,000,000, Funding Deadline: 12/18/2019
* Second Round: Funding Amount: $1,000,000, Funding Deadline: 01/18/2020
* Third Round: Funding Amount: $1,000,000, Funding Deadline: 02/18/2020
* Fourth Round: Funding Amount: $1,000,000, Funding Deadline: 03/18/2020
Expected Annualized Return: 8.0% - 8.5% 1
Investment Type: Preferred Equity 2
Minimum Investment: $10,000
Investment Duration: 8 - 14 Months 3
Payment Period: Prepaid All Interest Before Deferral
1 Subscribers will enjoy 8.%/year expected annual return, Subscribers will enjoy 8.5%/year expected annual return for investment on & above $300,000. Crowdfunz reserve the right of final explanations.
2 This project is preferred equity investment. Project 810 will take majority of developer’s equity which is valued as $8M as collateral when proceed to closing. And the developer provides his unlimited personal guarantee to ensure investors’ safety (According to third party appraisal in June 2018 that the project is estimated $32.6M when finished and the bank has provided $14.95M land and construction loan).
3 The developer can choose extend another 6 months at the first 8 months Crowdfunz reserves the right of final explanations.
Address: 148-31/35/37 90th Ave, Jamaica, NY 11435
Area: Jamaica, Queens, NY
Land Size: 15,225 SF
Building Size: 70,000 SF
Transaction Time: March, 2017
- The developer bought the land with $5.7M in March 2017. By far, more than $8M has been invested by developer and the bank has provided $14.95M land and construction loan. According to the third-party appraisal in June 2018, this project is estimated $32.6M after completion. The value will be the 1.72 times more than loans and preferred equity total amount.
- The project is located on the core business area of Jamaica, NY and adjacent to courts, SSN center and all the living facilities. The infrastructure of the building was finished. Now they move onto interior construction & condo book application. Construction risk has been reduced to minimum. The building is anticipated to completed by March 2020.
- Only 3 mins walk to Subway $ LIRR station; 20mins train ride to Manhattan; 10 mins Air train to JFK.
* Based on third-party appraisal on June 2018, the building worth 32.6 million USD after complication.
* The development has secured $14.95 million construction & land loan package from bank, CrowdFunz will lend another $4 million as preferred equity.