Annual Return: 7.25% - 7. 50%
Min-invest Amount: $10,000
Duration: 3 - 12 Months
|Fund Type||Private Equity Fund|
|Offering Amount||$3,000,000 U.S. Dollars|
|Estimated Return||7.25% - 7.50% Annualized Return*1|
|Investment Type||Equity Pledged Loan|
|Unit Price||$10,000 per Subscription Unit|
|Offering Date||September 2022|
|Investment Horizon||3 - 12 Months*2|
|Dividend Schedule||Prepaid per 3 Months*3|
*1 7.25% Annualized Return For Investment of 1-19 Units;
7.50% Annualized Return for investment above 20 Units.
*2 Investors will receive a minimum of 3 months of dividends. After 3 months, dividends will be calculated in terms of days till the developer repays the loan.
*3 Investors will receive prepaid dividends every 3 months if the developer chooses to extend the term.
|Property Address||208 Delancey Street, New York, NY 10002|
|Site Area||Lower East Side, Manhattan, NY|
|Building Size||73,831 SQFT|
|Living Area||54,810 SQFT|
|Total Units||85 Units|
|TCO Date||October 2022|
|Expected Dividend Calendar|
|Round of Dividend||Dividend Date *1||Counting Date||Ending Date||Dividend Period||Notes|
|First||No Later than|
|9/20/2022||12/19/2022||3 Months||Prepaid Dividend|
|Second||No Later than|
|12/20/2022||3/19/2023||3 Months||Extension Option Owned by Developer *2|
|Third||No Later than|
|3/20/2023||6/19/2023||3 Months||Extension Option Owned by Developer *3|
|Forth||No Later than|
|6/20/2023||9/19/2023||3 Months||Extension Option Owned by Developer *3|
*1 In case of holidays and non-working days, the dividend date will be automatically postponed to the next working day.
*2 Investors will receive at least 3 months worth of dividend. After 3 months, dividend will be calculated based on days until developer repays the principal.
*3 After first dividend period, developer owns 3 extension options. If developer exercises the options, investors will receive additional dividend accordingly.
|Construction Loan from Commercial Banks||$62,850,000||68.43%|
|Loan Issued by CrowdFunz Fund 826||$3,000,000||3.27%|
|Equity Contribution by Developer||$26,000,000||28.30%|
|Zip Code 10002|
|High School Education or above||81.51%|
|Family Median Income||$65,718|
|Average Family Size||2|
|Buy House to Own||49.88%|
Lower East Side is a great area for businesses and for residentials. It has become one of the most desired living areas by professionals and fashion enthusiasts, for its strong transportation and advanced living facilities.
Residents are diverse, with 32% Asian. Other races include Caucasian, Latino, and African American.
Most residents are of middle-age and have stable family income. Average age is 41.8 year-old, and 20% of the families bear at least a child. As more professionals and residents move back into the city, local housing supply is becoming more insufficient, therefore making the area a great real estate investment target.
* Source： Point 2 Homes & NICHE public data.
* Appraisal Report; compiled and calculated by CrowdFunz
According to Appraisal Report provided by Property valuation Inc., the property could have $103,000,000 of total sales
Based on current market price, CrowdFunz estimates that the property could be valued at $107,000,000
The area has strong network of transportation. Project site is 3-min walk from closest subway station and 15-min subway away from Midtown, Manhattan and Financial District. Driving to LGA or JFK Airport takes approximately 20 to 30 minutes.
The area has wide selection of high-quality primary, middle, and high schools, to meet education needs, as shown in the map.
Project is in Manhattan’s prime area with abundant coffee shops, restaurants, art galleries, and living facilities. Proximity to Chinatown brings convenience to Chinese residents.
Project is close to museums, gyms, and recreation centers. New Museum, Westwood Gallery, and Sperone Westwater Gallery are popular among tourists and residents.
Developer Company: New Empire Corp.
Developer Website: https://www.newempirecorp.com/
Prior Cooperation: CrowdFunz Fund 604 / CrowdFunz Fund 805 / CrowdFunz Fund 819
New Empire Corp. was founded in 1997 and has over 20 years of development expertise.
Its projects in Long Island City and in Brooklyn have won Best-selling Condominium Awards in New York City and Brooklyn.
Under the leadership of CEO Bentley Zhao and Vice President Kevin Zhao, the company has completed over 100 residential and hotel projects.