Annual Return: 8.50% - 8.75%
Min-invest Amount: $10,000
Duration: 6 – 12 Months
|Fund Type||Private Equity Fund|
|Estimated Return||8.50 – 8.75% Annualized Return*1|
|Investment Type||Equity Pledge Loan|
|Unit Price||$10,000 per Subscription Unit|
|Offering Date||August 2023|
|Investment Timeline||6 – 12 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 a minimum of 6 months of dividend. After 6 months. Developer has 2 extension options, and investors will receive dividend accordingly.
*3 Investors will receive prepaid dividend before every period of 6 months.
|Address||3 Court Square PH308, LIC, NY 11101|
|Area||Long Island City, Queens, New York|
|Lot Area||1,325 Sqft|
|Unit Sale Price||$2,188.00/Sqft|
|Expected Dividend Calendar|
|Round of Dividend||Dividend Date *1||Counting Date||Ending Date||Dividend Period||Notes|
|First||No Later than|
|08/21/2023||02/20/2024||184 days||Prepaid Dividend *2|
|Second||No Later than|
|02/21/2024||08/21/2024||183 days||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 184 days of dividends. After 6 months, dividends will be calculated in terms of days till Developer repays the loan.
*3 After the first dividend period, Developer owns 1 extension options, and investors will receive dividends accordingly at the same dividend rate.
|CrowdFunz Fund 838 Equity Pledge Loan||$2,200,000.00||75.86%|
|Property Equity Value||$700,000.00||24.14%|
|Zip Code 11101|
|High School Education or above||69.8%|
|Family Median Income||$66,579|
|White Collar/Blue Collar||90.5%/9.5%|
|Average Family Size||2.21|
|Average Housing Price||$975,000|
Due to its premium geographic location, Long Island City has become one of the hottest areas absorbing new real estate developments in New York. Meanwhile, more companies and residents have chosen Long Island City as the destination for business and living.
Younger population dominants in the area, and most residents are middle class professionals with jobs and stable incomes. The ethnic backgrounds are also well-diversified.
The average age is 35; 23% of the families have children. Self-residence is the main demand for tenants. Due to the low housing inventory available for sale and high needs from buyers, the property prices are constantly going up.
* Data Source: United States Zip Codes. Org. & Esri Zip Code Lookup, American Community Survey, August 2023.
According to the data provided by PropertyShark, there were 79 condo transactions in the second quarter of 2023; median condominium sale increased 65.3% YoY to $785,000 price in Long Island City. Also, median unit sale price of $1,311 is 37.7% higher than a year ago.
As more new residential buildings completed, condo market in Long Island City is better than it during pandemic. Listing price, sale price, and transaction are all improved from 2022.
According to the data provided by PropertyShark, the median sale price of condo units in Long Island City is currently Top 10 in Queens, New York.
* Data Source: PropertyShark。
* Source: Property information, Zillow, and StreetEasy, data compiled and calculated by CrowdFunz.
Project is in prime area of Long Island City. The surrounding public transportation is well-developed with 5 subway lines and multiple bus lines. The residents can conveniently reach various destinations in Queens, Brooklyn, and Manhattan. Driving from the project site takes 15 minutes to LaGuardia Airport and 25 minutes to JFK International Airport.
The basic education system in the area covers many elementary schools, junior high schools, and high schools. There are also many technical schools to meet young professionals’ self-development goals.
In addition to well-developed public transportation, the local business environment is vigorous. Companies and government agencies has been moved to the area, and new restaurants and supermarkets have been settled.
The surrounding recreation facilities are improving to fit residents’ need. Museums, gyms, and entertainment venues nearby are within walking distance.
Developer Company: BCG GLASS INDUSTRY.
Developer Website: https://bcgfacades.com/
The company is led by two new Chinese developers in New York. It started from the business of glass building materials and has gradually accumulated development experience in New York local market in the last decade. The company has completed 5 developments in Queens, New York, being active on adding market footprints.
In the past 15 years, the company has established a good cooperative relationship with local developers through its main business of glass building materials and has collaborated with several well-known Chinese real estate developers.