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Condo Development Land Loan 604

Midtown West, NY
Annual Return

Investment Summary
CrowdFunz is arranging a bridge loan of $2,350,000which will be secured by a commercial property located at West 52nd Street, New York, NY 10019 (the “Property”).

Investors are expecting to receive an estimated annual return rate depends on the shares invested:
  • 1-2shares: 6.625%
  • 3-9shares :7%
  • 10 shares or up: 7.375%
Loan term: 9-12 months. The borrower will apply for a construction loan after the completion of the renovation to pay off this loan.

Property Overview
The property is a 9,920 + SF luxury condo. The property is 7 floors high with 7 residential units. Each unit has 1-2 bedrooms.

  • Location: West 52nd Street, New York, NY 10019
  • Zoning: R8/CL
  • Plan: 7 stories, 13,310Sq Ft building, 7 Units Condo (1-2 BR Apt)
  • Saleable Area:$9,920
  • Expected total sales:$16,162,000

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