Condominium Construction Loan 607
Type: Construction Loan
Target: $800,000
Annual Return: 7.00% - 7.50%
Min-invest Amount: $20,000
Duration: 12-18 months
· Investment Type： Condominium Construction Loan (First Lien)
· Total Investment： $800,000
· Project Total Cost： $3,100,000
· Minimum Investment： $20,000
· Investment Term： 12-18 Months
· Est. Annual Return： 7% - 7.5%
· Payment of Interest： Every 6 Months in Advance
· Loan to Value： 25%
This project is located in the area of Gravesend, Brooklyn. 3 minutes walking distance to N, Q & W train, which compress the commuting time to Manhattan within 25 minutes. The Project is in a densely populated, blooming upscale urban community with easy access to Calvert Vaux Park & Coney Island Beach. Gravesend's earliest non-native settlers were predominantly English and Dutch. This area has been home to a growing Chinese community for the past a few years.
· Number of Stories： 6
· Gross Floor Area (Basement Excluded)： 8,200 SF
· Lot Size： 2,050 SF
· Total Unites： 11 unites
Low LTV Ratio & First Mortgage
LTV ration in this project is only 25.8%. Such a low ratio allows the lender to control the project risks. Total projected value in this project is over $4,500,000, CrowdFunz provide the first mortgage to the developer. All documented will be filed through NYC government to make sure the money from our investors is secured.
A High-Yield Investment
Investors are expecting to receive an estimated annual return rate depends on the shares invested: 1-2shares: 7%, 3 shares or up ：7.5%. The developer will pay interest in advance for six months. It is a stable income and higher safety factor.
Short Investment Period
The investment term is only 12-18 months. This project is classified as short-term low-risk investment product.
A Powerful Developer who will provide a personal guarantee
New York developer with a wealth of project operation experience and good social reputation. The project will be secured by Developer’s personal guarantee.
Perfect Location
This project is located in Gravesend, Brooklyn; Walking distance to metro station; 25 minutes commuting to Manhattan; Easy access to Calvert Vaux Park & Coney Island Beach. This condo building is in densely populated area, highly demand for new resident condos. Nearby area has reasonable profit margin, giving a promising signing rate.
Predicted Inflation of Prices in Local Condo Market
Based on the statistical data from Trulia. From 2012 to 2017, The houses' average sale prices in Gravesend went up by 40% each year and the prices still keep up. The promising property market in local area will be a strong support of the project operating & return of the capital from our investors.
| Type | Source | Amount | Percentage | ||
| Debt | Investors and Other | $800,000 | 25.8% | ||
| Common Equity | Developer | $2,300,000 | 74.2% | ||
| Total | $3,100,000 | 100% |
2012-2017 Gravesend Housing sales price
Data Source：Trulia
| RISK CATEGORY | 0 | 1 | 2 | 3 | 4 |
|---|---|---|---|---|---|
| Sponsor | |||||
| Experience | 1-2 yrs | 3-5 yrs | 6-10 yrs | 10+ yrs | |
| Tracking Record | 0-3M | 3-10M | 10-50M | 50M+ | |
| Credit Score | Accept | Fair | Good | Excellent | |
| Property as Collateral | No | Yes | |||
| Financials | |||||
| Investor Equity% | >60% | 50%-60% | 40%-50% | 25%-40% | <25% |
| Loan Senior Crowdfunz | 70%-79% | 60%-69% | 50%-59% | 1%-49% | 0% |
| Location | |||||
| Location | Rural | Suburban | Core Urban | ||
| Walk Score | 0-49 | 50-69 | 70-89 | 90-100 | |
| Supply & Demand | S>>D | S>D | S≈D | S<D | S<<D |
| Property Type | |||||
| Development Phase | Ground Up | Value-added | Stablized | ||
| Occupancy | Low | Moderate | High | Very High | |
| Investment Term | 60+ Mths | 25-60 Mths | 13-24 Mths | < 12 Mths |
Subscription Agreement (Only available to accredited investors)
Appraisal (Only available to accredited investors)