Condo Development Land Loan 608

This project is located in the area of Corona, Queens, NY. 6 minutes walking distance to F train, which compress the commuting time to Manhattan within 30 minutes. 10 minutes driving to Flushing downtown, New York's largest Chinese community.

The project is in a densely populated, blooming upscale urban community with easy access to Flushing Meadows-Corona Park, the largest park in Queens. As a historical multicultural community, Europeans、Asians and Hispanics chose to live here. In recent years, Corona has become a new hot zone for Chinese investors as it directly next to Flushing. 

The old building has been demolished, the land are ready for construction. The architecture design drawing and working Permit have been approved by DOB and DOH.

First Lien Mortgage and personal guarantee

Total projected value in this project is over $3,000,000, CrowdFunz holds the first mortgage lien to the land. All documentations will be filed in NYS, ensuring the safety of our investors’ property. Developer will sign the personal guarantee contract, further control the risk of investment. 

A High-Yield Investment

Investors are expecting to receive an estimated annual return rate depends on the shares invested: 1-2 shares: 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 6-12 months. This project is classified as short-term low-risk investment product.

Perfect Location

This project is located in Corona, Queens; Walking distance to metro station; 30 minutes commuting to Manhattan; Easy access to Flushing Meadow-Corona Park. This land is in densely populated area, highly demand for new resident condos. In recent years, Corona has become a new hot zone for Chinese investors as it directly next to Flushing. Based on the recent Redfin Statistical Report, the Sale/list rate is more than 95%.

Professional Third Party Supervision

Appraisal Report and Competitive Market Analysis provided by professional third party, ensuring the reasonability of the loan amount. 

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 Corona went up by 30% each year and the prices still rises. The promising property market in local area will be a strong support of the project operating & return of the capital from our investors.

Unit Price of Floor Area Much Lower than Average

According to Listed and recent sold properties’ price, the same zoning properties’ land cost between $200/sqft ~$220/sqft. However the land price of our project is only $166/sqft. Based on Redfin closing data, the average selling price of Corona is $522 /sqft, $539/ sqft for North Corona. The wide margin provide ample space for profitability of the development of this project.