|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||October 2023|
|Investment Timeline||12 – 30 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 12 months of dividend. After 12 months. Dividends will be calculated in terms of days until principal is repaid.
*3 Investors will receive prepaid dividend before every period of 6 months.
|Address||489 & 501 9th Avenue, New York, NY, 10018|
|Area||Hudson Yards, Manhattan, New York|
|Lot Area||16,479 Sqft|
|Building Area||158,613 Sqft|
|Intended Use||122 Condo Units，5 Commercial Units. 2 Community Centers, 25 Storage Units|
|Construction Duration||22 Months|
|Expected Dividend Calendar|
|Round of Dividend||Phase||Amount||Dividend Date *1||Counting Date||Ending Date||Dividend Period||Notes|
|First||First||$2,000,000||No Later Than|
|10/1/2023||9/30/2024*2||366 Days||Prepaid Dividend|
|Second||$2,000,000||No Later Than|
|11/1/2023||9/30/2024||335 Days||Prepaid Dividend|
|Third||$2,000,000||No Later Than|
|12/1/2023||9/30/2024||305 Days||Prepaid Dividend|
|Forth||$2,000,000||No Later Than|
|1/1/2024||9/30/2024||274 Days||Prepaid Dividend|
|Second||-||-||No Later Than|
|10/1/2024||3/31/2025||182 Days||Extension Option Owned by Developer *3|
|Third||-||-||No Later Than|
|4/1/2025||9/30/2025||182 Days||Extension Option Owned by Developer *3|
|Fourth||-||-||No Later Than|
|10/1/2025||3/31/2026||182 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 First round of investors will receive at least 366 days of dividends. After 12 months, dividends will be calculated in terms of days till Borrower repays the loan.
*3 After the first dividend period, Borrower owns 3 extension options, and investors will receive dividends accordingly at the same dividend rate.
|Mortgage from Commercial Bank||$103,000,000||63.96%|
|CrowdFunz Fund 839 Equity Pledge Loan||$8,000,000||4.98%|
|Zip Code 10018|
|High School Education or above||97.19%|
|Family Median Income||$170,154|
|White Collar/Blue Collar||95.24%/4.76%|
|Average Family Size||2|
Hudson Yards had seen fast development, and numerous large-scale projects have been completed in the past 10 years. As more companies move into the area, high-end restaurants and shopping centers were built to accommodate the luxurious lifestyle of wealthy individuals and young professionals.
Most residents in Hudson Yards are young and have high spending power. The ethnic backgrounds are also well-diversified.
The average age is 35.8; 12.11% of the families have children. Most residents choose to rent. There is big supply shortage of luxury condos and rental buildings.
* Data Source: Point2homes.com, in September 2023.
According to Appraisal Report provided by Archstone Group NYC, the average sale price of new Manhattan condos is significantly higher than pre-pandemic level, and the demand for small residential units has reached 11-year high.
According to the data provided by Douglas Elliman, as of the fourth quarter of 2022, the average sale price of new condos in Manhattan had reached $1,982/Sqft. Sales of newly built condos is accounted for 15.9% of the whole market.
According to the data in Appraisal Report provided by Archstone Group NYC, number of homes sold in Midtown West is accounted for 40%.
* Source: Appraisal Report provided by Archstone Group NYC.
Project is on 9th Avenue in between 37th and 38th street. Penn Station and Time Square are within walking distance. Various transportation choices grant residents easy access to different areas of Manhattan, Queens, and Brooklyn.
Hudson Yards has Success Academy Charter School, one of the highest-performing and the largest charter schools in New York. It offers K-4 primary school and Grade 5-8 middle school education. The school is highly rated by parents.
In addition to well-developed public transportation, the local business environment is vigorous. More wealthy individuals are moving into the safe and luxurious area.
The surrounding recreation facilities are improving to fit residents’ needs. Museums, gyms, and entertainment venues nearby are within walking distance.
Developer Company: TW HY 9 Holding LLC. / W 37 Venture LLC.
Prior Cooperation: CrowdFunz Fund 606 / CrowdFunz Fund 806 / CrowdFunz Fund 810 / CrowdFunz Fund 813 / CrowdFunz Fund 817 / CrowdFunz Fund 824 / CrowdFunz Fund 829
The development is led by a seasoned Chinese American development group. The company has over 30 years of experience in residential building development.
Developer had completed numerous properties, including retail, large-scale residential, and mixed-use buildings, in Queens and other emerging markets in New York City.
Developer had developed over 5 million Sqft of real estate in major cities in China and the United States.
In the past 20 years, Developer has been more sophisticated in property acquisition, development, management, and sales.