• The underlying project is in the core area of Woodside, Queens, on the north side of Queens Blvd between 64th and 65th Streets. This prime location benefits from exceptional transit accessibility and New York City’s recent rezoning and housing incentive policies. As a result, Woodside has become a booming development area for mid-to-high-end residential projects, establishing itself as an ideal residential hub for young middle-class professionals in New York City.
• The proposed property is a 14-story Class A mixed-use rental building totaling 118,848 square feet. The closing date of the land acquisition was in August 2025, and foundation works were completed in April 2026. The construction of superstructure will be initialed in May 2026. According to the construction schedule, Borrower anticipates that the completion of project construction and the Temporary Certificate of Occupancy will be achieved in the second half of 2027. Upon completion, the proposed property will have 130 market-rate and 45 affordable rental units, alongside 10,686 square feet ground-floor commercial space and 28 underground parking lots.

Location

The project is in the core area of Queens, New York, surrounded by an extensive public transportation network. It offers proximity to the LIRR and the E, M, R, and 7 subway lines, along with numerous bus routes, providing rapid access to Manhattan and throughout the New York metropolitan area. Both the LIRR station and MTA subway stations are within a 10-minute walk of the site. Additionally, the location is highly accessible by car, with LaGuardia Airport reachable in 15 minutes and JFK International Airport in 30 minutes.

Transportation

• Subway: E, M, R, 7 (10-minute walk)
• LIRR: South and North (10-minute walk)
• To Midtown: Around 25 minutes
• To JFK: Around 30-minute drive
• To LGA: Around 15-minute drive

Schools

The project site is in New York City's District #30 in Queens County, a school district featuring approximately 51 schools and a comprehensive K-12 educational infrastructure. This network includes 28 kindergartens, 32 elementary schools, 17 middle schools, and 11 high schools. High-performing institutions in the area include PS 234 and PS 17 Henry David Thoreau, both of which hold a 9-point GreatSchools rating. Additionally, 8-point rated schools in the district include I.S. 227 Louis Armstrong Intermediate School, 30th Avenue School, Hector Figueroa School, and PS 84 Steinway.

Living

The area's population is primarily composed of single-person households under the age of 40, characterized by strong purchasing power. In recent years, a growing Asian population has led to an increase in supermarkets and retail stores tailored to the daily needs and preferences of Asian residents.

Entertainment

The surrounding area offers a diverse array of amenities, including fitness centers, community sports hubs, museums, and multiple parks. Residents also have access to comprehensive local services such as childcare facilities, educational tutoring centers, and public libraries. Notable green spaces in the immediate vicinity include Big Bush Playground, General Hart Playground, and Doughboy Plaza.

Developer: ZD Jasper Realty

Website: https://www.zdjasper.com/

Past Cooperation: Fund 606 / 806 / 810 / 813 / 817 Phase 1 / 817 Phase 2 / 824 / 829 / 839 / 854

• CrowdFunz Fund 859 provides a mid-term loan to the borrower, financing the construction costs of the underlying project. The borrower plans to repay the loan through refinancing once the property achieves rent stabilization or via cash returns from other real estate projects it holds.
• The underlying project of Fund 859 has a relatively low financial leverage. The loan-to-cost ratio of the project is only 53.06%, well below the industry norms, and the borrowing is backed by sufficient equity value in approximately $53,271,273, which is more than ten times of total loan amount originated by Fund 859.
• The underlying project is located in a prime location of Woodside, Queens, New York. It benefits from a 10-minute walking distance to major transit lines, including the Long Island Rail Road (LIRR) and multiple subway lines, providing easy access to Manhattan, Brooklyn, and Long Island.
• The Borrower has seasoned development experience and proven track record. The borrower has over 30 years of residential real estate development experience in the New York market and has cooperated with CrowdFunz 10 times in previous funds, establishing a proven track record of credit reliability by consistently fulfilling interest and principal repayment obligations on time.
• Given the factors mentioned above, CrowdFunz believes that under the loan agreement with clear legal rights and obligations, the mid-term debt invested by Fund 859 has controllable risks and a low probability of default, making Fund 859 considerable for retail investors seeking fixed-income investment opportunities.