Equity Pledge Debt Fund 834
Type: Debt
Target: $1,000,000
Annual Return: 8.50% - 8.75%
Min-invest Amount: $10,000
Duration: 6+6+6 Months
| Fund Type | Private Equity Fund |
| Offering Amount | $1,000,000 |
| Estimated Return | 8.50 – 8.75% Annualized Return*1 |
| Investment Type | Equity Pledge Loan |
| Unit Price | $10,000 per Subscription Unit |
| Offering Date | May 2023 |
| Investment Timeline | 6 + 6 + 6 Months Months*2 |
| Dividend Schedule | Prepaid per 6 Months*3 |
*1 8.50% Annualized Return for Investment of 1-19 Units; 8.75% Annualized Return for Investment above 20 Units.
*2 Investors will receive prepaid dividend before every period of 6 months.
- Property is in Kew Gardens, Queens, New York, close to I-678 Highway and Grand Central Parkway. Kew Gardens has been one of the fastest growing communities in Queens in the past decade. Convenient access to Manhattan, Queens, and Long Island makes the area popular among young professionals.
- The proposed 8-floor tall property will feature ground retail space and 51 Condo units spreading across floor 2 to floor 8. As of May 2023, Developer had finished superstructure and is working on electricity and plumbing. Developer expects to finish construction in late December 2023, and receive TCO soon after.
| Address | 81-07 Kew Gardens Rd, Queens, NY 11415 |
| Area | Kew Gardens, Queens, New York |
| Lot Area | 7,816.4 Sqft |
| Building Area | 48,872.8 Sqft |
| Use | 51 Condo Units, 3 Commercial Units |
| Expected Dividend Calendar | ||||||
|---|---|---|---|---|---|---|
| Round of Dividend | Dividend Date *1 | Counting Date | Ending Date | Dividend Period | Notes | |
| First | No Later than 06/05/2023 | 5/20/2023 | 11/19/2023 | 184 days | Prepaid Dividend *2 | |
| Second | No Later than 12/05/2023 | 11/20/2023 | 5/19/2024 | 182 days | Extension Option Owned by Developer *3< | |
| Third | No Later than 06/05/2024 | 5/20/2024 | 11/19/2024 | 184 days | 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 6 months, dividends will be calculated in terms of days till principal is repaid.
*3 After the first dividend period, Developer owns two extension options, and investors will receive dividends accordingly.
- Developer will use the funds provided by CrowdFunz Fund 834 on labor and material costs. As of May 2023, Developer had finished the superstructure which reduced the investment risks during construction period.
- Developer had contributed $6,000,000 of equity, 6 times the loan amount provided by CrowdFunz Fund 834, and Developer will provide Unlimited Personal Guarantee, which is estimated to be more than 10 times the loan amount.
- Property is in core area of Kew Gardens and close to subway stations. LIRR station is 5-min walk away. Area has developed business and high population density.
- Property is near key transportation hubs of Queens Blvd and I-678 Highway. Flushing is 8-min drive away. Subway commuting to Manhattan will take 15 minutes.
- Due to increase in labor and material costs, the total costs exceeded Developer’s initial estimation. Loan provided by CrowdFunz Fund 834 will be used to cover plumbing work and labor. The Construction is heading towards later stage; therefore, risks are comparatively lower.
- Once property is mostly leased, Developer will repay the loan provided by CrowdFunz Fund 834 by refinancing with a commercial bank, or using other funding resources.
- Developer has over 15 years of experience in real estate development and investment in New York and Mainland China. Company has completed 5 projects in New York and has 3 ongoing projects.
- CrowdFunz Fund 834 marks the second cooperation between CrowdFunz and Developer. Both parties hope to extend the sound relationship and create value for our investors.
Location
Property is in core area of Kew Gardens. F and E subways are 2-min walk away. LIRR station and Manhattan are 2-min and 15-min drive away. Local living facilities include malls, entertainment venues, hospitals, banks, schools, and care centers.
Transportation
- Subway：E/F
- LIRR: LIRR
- To JFK Airport：5.6 miles (15-min drive)
- To LGA Airport：4.6 miles (15-min drive)
Schools
Kew Gardens has 1 public primary school and 3 well-known private schools.
Living Facilities
Kew Gardens has a fast-growing Asian community and has been attracting Chinese investors and homebuyers.
Entertainment
Local family-friendly entertainment venues include art and science museums, and US Open Tennis stadium.
- Up coming.
Subscription Agreement (Only available to accredited investors)
Appraisal (Only available to accredited investors)