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Long Islang City, Queens, NY
8% - 8.25%
Offering Amount: $3,600,000 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: May 2021
Investment Horizon: 12 - 24 Months(12+6+6 Months)
Dividend Schedule: Prepaid before per Period
*1 8% Annualized Return For Investment of 1-19 Units;8.25% Annualized Return for investment above 20 Units.
Address: 4530 Pearson Street, Long Island City, NY, 11101
Area: Long Island City, Queens, New York
Lot Size: 20,270 SF
Zoning: M1-5/R7-3 (FAR =5)
Salable Size: 100,538 SF
Building Size: 138,648 SF
Market Value after Operation: $140,600,000 (From the appraisal provided by Marshall & Stevens, January 2021)
In this project, the developer started land acquisition and architecture works in 2019. After work permit issued by government agencies, the initial construction began in the first quarter of 2021. The foundation and its structure are currently under construction, and the holistic foundation is estimated to be completed by the end of May 2021.The proposal of the development is 25-floor building with a total of 100,538 saleable square feet, containing 130 condominiums and 15 parking lots. The project is expected to be completed in the third quarter of 2023. Based on developer's plan，Condo Book will be issued in 2022，and the condominium sales and closings will be executed as soon as Certificate of Occupancy being approved.