Equity Pledge Debt Fund 862
Type: Debt
Target: $5,000,000
Annual Return: 8.00% - 8.25%
Min-invest Amount: $10,000
Duration: 6 – 18 Months
| Fund Type | Private Equity Fund |
| Offering Amount | $5,000,000 |
| Estimated Return | 8.00 – 8.25% Annualized Return*1 |
| Investment Type | Equity Pledge Loan |
| Unit Price | $10,000 per Subscription Unit |
| Offering Date | July 2026 |
| Investment Timeline | 6 – 18 Months*2 |
| Dividend Schedule | Prepaid per 6 Month*3 |
*1 8.00% Annualized Return for Investment of 1-19 Units; 8.25% Annualized Return for Investment above 20 Units;
*2 Investors will receive a minimum of 6 months of dividend; dividends will be calculated in terms of days till Borrower repays the loan.
*3 After the first dividend period, Borrower owns 2 extension options, and investors will receive dividends accordingly at the same dividend rate.
- Located in Long Island City, Queens, one of New York City’s fastest-growing neighborhoods over the past decade, the project sits south of Queens Plaza South, north of 42nd Road, and adjacent to 24th Street. It is a 5-minute walk to the Queensboro Plaza and Queens Plaza subway stations, serving the N, W, 7, E, F, and R lines, and offers a 20-minute commute to Midtown Manhattan.
- The development features a 38-story mixed-use building with approximately 266,608 square feet, comprising 207 condominium units, two ground-floor commercial units totaling 1,741 square feet, a rooftop garden, and residential amenities. The groundbreaking of the project occurred in September 2025 after obtaining its building permit, with foundation work completed in February 2026. Construction is currently progressing on the superstructure, façade, and exterior.
- The superstructure is proposed to be completed in October 2026, followed by façade and exterior completion in February 2027. Interior and pipeline works are expected to be finished in January 2028. It is expected that the certificate of occupancy and official project completion will be in the first half of 2028.
| Address | 24-02 Queens Plaza South, LIC, NY 11101 |
| Area | Long Island City, Queens, New York |
| Lot Area | 24,464 Sqft |
| Total Building Area | 266,608 Sqft |
| Intended Use | 38-story mixed-use building featuring 207 condominium units, 2 commercial units, a rooftop garden, and residential amenities. |
| Expected Dividend Calendar | |||||||
|---|---|---|---|---|---|---|---|
| Round of Dividend | Phase | Amount | Dividend Date*1 | Counting Date | Ending Date | Dividend Period | Note |
| First | First | $500,000 | No Later Than 8/15/2026 |
7/31/2026 | 1/30/2027 | 184 Days | Prepaid Dividend*2 |
| Second | $500,000 | No Later Than 9/15/2026 |
8/31/2026 | 1/30/2027 | 153 Days | Prepaid Dividend | |
| Third | $1,000,000 | No Later Than 10/15/2026 |
9/30/2026 | 1/30/2027 | 123 Days | Prepaid Dividend | |
| Fourth | $1,000,000 | No Later Than 11/15/2026 |
10/31/2026 | 1/30/2027 | 92 Days | Prepaid Dividend | |
| Fifth | $1,000,000 | No Later Than 12/15/2026 |
11/30/2026 | 1/30/2027 | 62 Days | Prepaid Dividend | |
| Sixth | $1,000,000 | No Later Than 1/15/2027 |
12/31/2026 | 1/30/2027 | 31 Days | Prepaid Dividend | |
| Second | No Later Than 2/15/2027 |
1/31/2027 | 7/30/2027 | 181 Days | Extension Option*3 Owned by Borrower |
||
| Third | No Later Than 8/15/2027 |
7/31/2027 | 1/30/2028 | 184 Days | Extension Option Owned by Borrower |
||
*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 a minimum of 6 months of dividends; dividends will be calculated in terms of days till Borrower repays the loan;
*3 After the first dividend period, Borrower owns 2 extension options, and investors will receive dividends accordingly at the same dividend rate.
- According to the appraisal provided by third-party appraiser Leitner Berman, based on the cost approach, the estimated valuation of the underlying property upon completion is approximately $218,200,000; the estimated valuation based on the market net sellout value is approximately $245,800,000.
- The short-to-medium-term mezzanine loan originated by CrowdFunz Fund 862 is secured by a 100% equity pledge in the project-owning entity, with an equity value of approximately $98,200,000, which represents about 20 times the loan amount originated by Fund 862. Additionally, the borrower’s key person will provide an unlimited personal guarantee for the borrowing.
- The borrower for this fund’s underlying project has successfully completed the development and construction of several medium-to-large commercial real estate projects in New York, enjoying a solid industry reputation. Their primary development projects span Queens and Brooklyn. The core team possesses over 30 years of local real estate development experience, demonstrating deep market knowledge and outstanding execution capabilities throughout the development process.
- CrowdFunz Fund 862 represents the third collaboration between the developer and CrowdFunz, following Fund 821 and Fund 833. Through this partnership, both parties aim to assist the borrower in successfully achieving the project’s goals while providing fund investors with an opportunity to capitalize on local market opportunities.
- CrowdFunz Fund 862 provides a total loan amount of $5,000,000, structured in six phases. The first and second phases will raise $500,000 each, while the third through sixth phases will raise $1,000,000 per phase. Funding will be deposited into an escrow account based on the funding needs of the underlying project. The borrower intends to use the loan provided by Fund 862 for construction costs and other expenses, securing sufficient liquidity to effectively and timely complete the construction.
- The borrower expects to repay the loan by using proceeds from the sales of the project’s condominiums, loans provided by commercial banks, or cash returns from other properties it holds.
- The underlying project is located in the Long Island City neighborhood of Queens, New York City, directly across the river from the East Side of Manhattan. The surrounding area features exceptionally well-developed public transportation, covered by 7 subway lines and multiple bus routes, offering convenient access to Manhattan, various neighborhoods across Queens, and Long Island.
* The project is located in Long Island City, Queens, New York City.
Capital Structure of CrowdFunz Fund 862
Capital Stack
| Capital Stack | Percentage | |
|---|---|---|
| Mortgage from Commercial Bank | $115,000,000 | 52.70% |
| CrowdFunz Fund 862 Equity Pledge Loan | $5,000,000 | 2.30% |
| Borrower Equity | $98,200,000 | 45.00% |
| Total Capital Value | $218,200,000 | 100.00% |
- According to the appraisal provided by third-party appraiser Leitner Berman, based on the cost approach, the estimated valuation of the underlying property upon completion is approximately $218,200,000; the estimated valuation based on the market net sellout value is approximately $245,800,000.
- The short-to-medium-term mezzanine loan originated by CrowdFunz Fund 862 is secured by a 100% equity pledge in the project owning entity, with an equity value of approximately $98,200,000, which represents about 20 times the loan amount originated by Fund 862, accounted for 45.00% of the capital stack. Mortgage from commercial bank is in total of $115,000,000, accounted for 52.70%; the loan originated by CrowdFunz Fund 862 is $5,000,000, accounted for 2.30% of the capital stack. Based on the cost approach valuation, the project's loan-to-cost (LTC) ratio is approximately 55.00%, indicating the financial leverage below the industrial average.
- Additionally, the key person of the borrower will provide the unlimited personal guaranty for the borrowing. In the event of default, CrowdFunz may pursue legal remedies against the guarantor’s personal assets.
Demographics in Zip Code Area
| Astoria/Long Island City | |
|---|---|
| Population | 198,606 |
| Median Age | 35 |
| Born In | New York State (43.70%) / Foreign (36.60%) |
| Race | Caucasian (47.30%) / Latino (28.30%) / Asian (14.60%) / African American (4.00%) |
| Families with Children Under 18 | 21.40% |
| Unemployment Rate | 4.60% |
- According to U.S. Census Bureau data summarized by the NYU Furman Center, the Long Island City neighborhood in Queens, New York City, features a diverse population. White residents constitute the majority at 47.30%, followed by Hispanic residents at 28.30%, Asian residents at 14.60%, and African American residents at a relatively lower 4.10%. Residents born in New York State account for 43.70% of the population, while foreign-born immigrants make up 36.60%.
- The area is predominantly inhabited by young families with stable incomes, with a median age of approximately 35. Most residents are relatively young professionals, and families with children under 18 account for 21.40%.
- In recent years, Long Island City has attracted a growing number of new residents, becoming one of the top choices for Chinese buyers investing in and immigrating to New York.
* Source: NYU Furman Center and U.S. Census Bureau, July 2026.
Residential Market in Project Area
- According to U.S. Census Bureau data summarized by the NYU Furman Center, as of the end of 2024, the homeownership rate in the Long Island City administrative district was only 18.50%, with the housing market dominated by rental apartments. The area had 99,819 registered housing units, with a residential rental vacancy rate of 3.40%.
- Condominiums currently dominate the local residential sales market. In 2024, a total of 472 residential units were sold in the area, including 188 condominium units, followed by 2-to-4-family residential homes with 178 units sold.
- Home prices in the area have remained relatively stable, showing a 425% increase across all housing types compared to the year 2000. As of year-end 2024, the median price for condominiums in the district was approximately $691,620.
- The district has continually attracted emerging residential developments over the past decade. New construction approvals peaked in 2019 with 1,687 new building permits approved, while newly issued Certificates of Occupancy peaked in 2024 and 2025, reaching 1,807 units in 2024 and 1,812 units in 2025.
* Source: NYU Furman Center and U.S. Census Bureau, July 2026.
Comparable Condominium Listing
* According to the listing data on Zillow, the unit sale price of comparable condominium units is $1,582.28/Sqft.
* Source: Zillow; data compiled and calculated by CrowdFunz.
Comparable Commercial Lease
* Source: Data provided by third-party appraiser Leitner Berman.
- According to data provided by third-party appraiser Leitner Berman, adjusted average rents for comparable leased commercial spaces in the surrounding area currently stand at approximately $120.00/sq. ft./year, with a median rate of approximately $125.00/sq. ft./year.
- According to projections by third-party appraiser Leitner Berman, the projected rent for Unit 1A, one of the two commercial spaces in the target project, is approximately $120.00/sq. ft./year, yielding an annual rent of approximately $77,520.00. For Unit 1B, the projected rent is approximately $100.00/sq. ft./year, generating an annual rent of approximately $109,500.00.
Cost Approach Valuation
- According to the appraisal provided by third-party appraiser Leitner Berman, based on the cost approach, the estimated valuation of the underlying property upon completion is approximately $218,200,000; the estimated valuation based on the market net sellout value is approximately $245,800,000.
- Considering the status of the project, CrowdFunz believes that the valuation based on the cost approach aligns with the project’s valuation, which is approximately $218,200,000. Specific valuation details are shown in the images below and on the right.
* Source: Detailed cost breakdown provided by the borrower.
* Source: Data provided by third-party appraiser Leitner Berman.
Location
- The project is in Long Island City, Queens, New York City, situated south of Queens Plaza South, the main local thoroughfare, north of 42nd Road, and adjacent to 24th Street. A 5-minute walk from the site reaches subway stations for the Metro N, W, 7, E, F, and R lines, providing a 20-minute commute to Midtown Manhattan. Additionally, LGA Airport is a 30-minute drive, and JFK Airport can be reached in 50 minutes by driving.
Transportation
- Subway: N, W, E, F, R, 7 (5-minute walk)
- To Midtown Manhattan: 20-minute subway
- To JFK: 50-minute drive
- To LGA: 30-minute drive
Schools
The project is in NYC School District #30, which boasts excellent educational resources with approximately 53 schools, including 28 pre-K programs/kindergartens, 33 elementary schools, 18 middle schools, and 12 high schools. Top-rated schools in the district with a 10/10 rating from GreatSchools include Ps 234, 30th Avenue School, Hector Figueroa School, and Ps 84 Steinway. Schools with a 9/10 rating include Hunters Point Elementary School, MS 429, Ps 11 Kathryn Phelan, Ps 17 Henry David Thoreau, Ps 166 Henry Gradstein, and I.S. 227 Louis Armstrong Intermediate School.
Living
Long Island City, New York, has evolved into a well-established Asian commercial hub, offering convenient living amenities that meet all daily dining and household shopping needs. The area features a wide variety of supermarkets and a rich array of restaurants tailored to Asian tastes, offering diverse international cuisine options for residents.
Entertainment
The development of recreational and leisure facilities around the project is continuously catering to the preferences of the younger generation. A variety of parks and sports centers are scattered within walking distance of the property. Additionally, convenient transportation options help ease the commuting pressure for Manhattan professionals.
Developer: AMPIERA GROUP
Website: www.ampiera.com
Past Cooperation: Fund 821 / Fund 833
- The borrower for the underlying project is Ampiera Group, a local Chinese-led NYC developer. Headquartered in Queens, New York City, Ampiera is a full-service real estate firm engaged in property investment, development, and management. Operating for over 10 years since its inception, its core business focuses on residential condominium developments in the Greater New York Area, while expanding in recent years into office spaces and commercial real estate development and management.
- Ampiera Group excels at identifying value opportunities in the local market, renowned for strategically acquiring, developing, and operating undervalued real estate assets. To date, the company has successfully completed several modern landmark developments locally, including the building housing Bank of China in Flushing, Queens, as well as multiple major commercial projects in Bay Ridge and Long Island City.
- CrowdFunz Fund 862 provides a short-to-medium-term mezzanine loan for the borrower. The borrower proposed to use the loan provided by Fund 862 for the construction costs and other expenses, securing sufficient liquidity to effectively and timely complete the construction. At the maturity, the borrower expects to repay the loan by using the proceeds from the sales of the project's condominiums, loans provided by commercial banks, or cash returns from other properties it holdings.
- The financial leverage of the underlying project is below standard industry levels. The loan-to-cost ratio of the project is 55.00%, and the borrower's net equity value is approximately $98,200,000, which represents about 20 times the loan amount originated by Fund 862 indicating a sufficient equity value.
- The underlying project is situated in a prime location of Long Island City, Queens, New York. Over the past decade, Long Island City has developed into one of NYC's most rapidly growing areas, evolving into an ideal residential community after Manhattan. Residents have stable incomes, and school resources are nearby.
- The borrower possesses extensive local development experience and an outstanding creditworthiness. The borrower possesses over 30 years of real estate development experience, featuring strong execution capabilities, robust financial standing, and high industry recognition.
- Consequently, CrowdFunz believes that the debt investment of Fund 862 carries a low default risk, making it suitable for investors seeking fixed-income products.
* Actual photo of project construction site.
CrowdFunz 862 Project Rating
PPM (Only available to accredited investors)
Subscription Agreement (Only available to accredited investors)
Subscription Agreement (Only available to accredited investors)
Operating Agreement (Only available to accredited investors)
Appraisal (Only available to accredited investors)
Appraisal (Only available to accredited investors)