|Fund Type||Equity Pledge Debt Fund|
|Offering Amount||$4,000,000 U.S. Dollars|
|Estimated Return||7.75% - 8.00% Annualized Return|
|Investment Type||Equity Pledge Loan|
|Unit Price||$10,000 per Subscription Unit|
|Offering Date||May 2022|
|Investment Horizon||12 – 24 Months|
|Dividend Schedule||Prepay Before Per Period (12+6+6 Months)|
*1: 7.75% Annualized Return For Investment of 1 -19 Units;
8.00% Annualized Return for investment above 20 Units.
|Site Address||Woodside, NY|
|Site Area||Woodside, Queens, New York|
|Lot Size||15,000 SF（150ft*100ft）|
|Zoning||R5B（FAR = 4.6x）|
|Leasable Area||69,000 SF|
|Building Size||96,994 SF|
|Post-Construction Market Value||$55,400,000|
|Expected Dividend Calendar|
|Round of Dividend||Funding Amount||Dividend Date *1||Counting Date||Ending Date||Dividend Period||Notes|
|First||$4,000,000||No Later than|
|6/1/2022||5/31/2023||12 Months||Pre-paid Dividend|
|Second||No Later than|
|6/1/2023||11/30/2023||6 Months||Extension Option Owned by Developer|
|Third||No Later than|
|12/1/2023||5/31/2024||6 Months||Extension Option Owned by Developer|
*1 In case of holidays and non-working days, the dividend date will be automatically postponed to the next working day.
*2 After the expiration of the first Dividend Period, the developer has 3 options to extend the borrowing by 6 months. If the developer chooses to extend, the investors will receive dividends at the same rate of return during the extension.
|Mortgage Originated by Commercial Bank||$33,500,000||65.05%|
|Loan Issued by CrowdFunz 824 Fund||4,000,000||7.76%|
|Equity Investment by Developer||14,000,000||27.19%|
The $4,000,000 mezzanine loan provided by CrowdFunz 824 Fund will be used to cover the cost of excavation, foundation, and superstructure. (Please see chart for breakdown).
Developer had contributed $10,000,000 of equity and expects to contribute another $4,000,000 according to the progress of groundwork. The $4,000,000 provided by CrowdFunz 824 Fund will enter the project in June, to cover necessary costs before construction loan kicks in.
|CrowdFunz 824 Fund – Proceed Usage|
|Support of Excavation||700,000||17.50%|
* Data provided by Developer
|Zip Code 11377|
|High School Education or above||52.6%|
|Family Median Income||$77,052|
|White Collar / Blue Collar||75.7%/24.3%|
|Average Family Size||2.67|
|Average House Price||$569,000|
Woodside is a key transportation hub, connecting Long island and New York City. Its strong network of transportation has attracted tourists and residents.
Most residents in Woodside live a family lifestyle, therefore spend mostly on daily necessities.
Residents have an average age of 40.5 years. Child-bearing families is accounted for 25.5%. Most people purchase houses to live in. However, local real estate market has garnered huge investor interest, in turn pushing up the house price.
* Data Source：United States Zip Codes. Org. & Esri Zip Code Lookup。
* According to independent Appraisal Report by CBRE, once rental operation stabilizes, the property may generate $2,577,000 of net income per year, given it an estimated market valuation of $55,400,000.
* The property could be valued at $53,000,000 when operation stabilizes, given by a more conservative valuation by CrowdFunz.
Project is in central area of Woodside, Queens, with easy access to transportations, including LIRR, subway, and bus. Driving to Midtown Manhattan takes approximately10 minutes.
There are numerous primary schools, middle schools, high schools to meet the education need of local children. There are also professional schools for adults looking to advance their careers.
The populated yet safe community has a strong network of transportation and local business, especially convenient for local families. In turn, the area has been seeing more real estate developments.
The neighborhood has parks, childcare facilities, education companies, recreational centers, and museums.
Prior Cooperation: CrowdFunz 606 Debt Fund / CrowdFunz 806 Debt Fund / CrowdFunz 810 Debt Fund / CrowdFunz 813 Debt Fund / CrowdFunz 817 Debt Fund
The development is led by a seasoned Chinese American development group and an emerging New York local developer. The whole team has commercial real estate development experience for over 3 decades.
The development team has completed numerous projects including retail complex, mega residential, and mixed-use buildings in various emerging areas in Queens and New York.
Besides local markets, the team has developed over 5 million square feet of projects in the United State and China.
The team is actively engaged in not only development but acquisition, property management and sales in the past 20 years, generating constant profits for partners and investors.