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Equity Pledge Debt Fund 814

Flushing, Queens, NY
8% - 8.25%
Annual Return

FUNDED
Investment Summary

Offering Amount: $6,000,000 U.S. Dollars

Estimated Return: 8.00% - 8.25% Annualized Return*1

Investment Type: Equity Pledge Loan

Unit Price: $10,000 per Subscription Unit

Offering Date: November 2020

Investment Horizon: 3 - 6 Months(3+1+1+1 Months)

Dividend Schedule: Prepaid before per Period

Special offer: 3%Condominium Purchase Discount*2

*1 8% Annualized Return For Investment of 1-19 Units;8.25% Annualized Return for investment above 20 Units.

*2 Investor with more than 25 units; Accept RMB transactions.

Property Overview

Address: 134-37 35th Ave, Flushing, Queens, NY, 11354

Area: Flushing, Queens, New York

Lot Size: 42,050 Square Ft.(165*235 FT)

Zoning: R6, C2-2(FAR is 4.8 times)

Building Size: 201,840 Square Ft.

Closing Price of Land: $4,300,000 (2003)

Current Price of Land: $44,404,000 (2018)

 

The development is a mega mix-used building with 16 floors and a total of 280,000 square feet. After completion, it will contain 9 retail spaces, a 210-key Four Points by Sheraton hotel, and 100 condominiums from 9th to 16th floor. The building also include 186 parking lots.

The developer has purchased the land in 2003 at a price of $4.3 million. The proposed architectural plan and working permit of the proposed development were approved in July 2015, and the construction began in 2016. In December 2019 , the residential units of the development were completed and obtained TCO (Temporary Certificate of Occupancy). The condominiums are currently under operations, offering living facilities like swimming pool, gym, 24-hour doorkeeper and other services. The rest parts of the development are still under construction..

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