Annual Return: 8.00 - 8.25%
Min-invest Amount: $10,000
Duration: 6 – 24 Months
|Fund Type||Private Equity Fund|
|Estimated Return||8.00 – 8.25% Annualized Return*1|
|Investment Type||Equity Pledge Loan|
|Unit Price||$10,000 per Subscription Unit|
|Offering Date||January 2023|
|Investment Timeline||6 – 24 Months*2|
|Dividend Schedule||Prepaid per 6 Months*3|
*1 8.00% Annualized Return for Investment of 1-19 Units; 8.25% Annualized Return for Investment above 20 Units.
*2 Investors will receive a minimum of 12 months of dividend. After 12 months, dividends will be calculated in terms of days, till principal is repaid.
*3 Investors will receive prepaid dividend before every period of 6 months.
|Property Address||146-17 Northern Blvd., Queens, NY 11354|
|Site Area||Flushing, Queens, New York|
|Lot Area||8,602 Sqft|
|Building Area||41,854 Sqft|
|Intended Use||34 Condo Units and 6 Commercial Units|
|Expected Dividend Calendar|
|Round of Dividend||Dividend Date *1||Counting Date||Ending Date||Dividend Period||Notes|
|First||No Later than|
|2/7/2023||8/6/2023||6 Months||Prepaid Dividend *2|
|Second||No Later than|
|8/7/2023||2/6/2024||6 Months||Extension Option Owned by Developer *3|
|Third||No Later than|
|2/7/2024||8/6/2024||6 Months||Extension Option Owned by Developer *3|
|Forth||No Later than|
|8/7/2024||2/6/2025||6 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 6 months of dividends. After 6 months, dividends will be calculated in terms of days, till principal is repaid.
*3 After 1 dividend period, Developer owns 3 extension options, and investors will receive dividend accordingly.
|Mortgage from Commercial Bank||$8,875,000||55.12%|
|CrowdFunz Fund 830 Equity Pledge Loan||$1,500,000||9.32%|
|Developer Equity Contribution||$5,725,000||35.56%|
|Zip Code 11354|
|High School Education or above||73%|
|Race||Asian(63%) / Caucasian(16%) / Latino(16%)|
|Family Median Income||$51,615|
|White Collar / Blue Collar||84.9%/15.1%|
|Average Family Size||2.7|
|Buy House to Own||39%|
With strong network of business, transportation, and education, the area had become one of the most popular destinations for Chinese families and an attractive real estate market.
Residents are mainly Asian, which makes up over 60% of the regional population.
Local families have stable income and sound financial health. Real estate market is mainly focused on Rental properties. New immigrants in recent years had propelled the rental market further. With limited supplies and high buying demands, investing in local real estate is becoming more attractive.
* Source: United States Zip Codes. Org. & Esri Zip Code Lookup, January 2023.
As of January 2023, there are 6 retail properties under construction in Northern Queens, totaling 128,207 Sqft of commercial space.
Local commercial real estate market has strong fundamentals due to the large population of middle-class residents. Retail businesses suffered during Covid-19, but outlooking for 2023 is broadly positive.
In the long term, local commercial real estate market is trending in the right direction. The current occupancy rate of commercial properties in Queens is about 96.3%; underlying units have been 100% leased.
* Source: CBRE Appraisal Report.
* Data Source: Appraisal; Calculated and Summarized by CrowdFunz Holding LLC.
Project is in the central area of Flushing with easy access to transportation, including LIRR, subway, and buses. Driving to JFK Airport and Midtown Manhattan takes 20 min and 30 min.
In the core area of Flushing, there is a wide selection of high-quality primary, middle, and high schools nearby to meet education needs, as shown on the map.
Community is full of Chinese businesses to meet all needs, including Chinese and Korean supermarkets, restaurants, and shopping centers.
There are museums, gyms, and recreation centers nearby, including science museums, tennis center, art center, and zoo.
Developer Company: FBL Development.
The project will be executed by two uprising Chinese developers. The team has over 15 years of experience in commercial real estate development and had completed 5 projects in Queens, New York.
In recent years, Developer is striving to establish itself in more emerging areas with outstanding projects.