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80 Cornelia, Bushwick, Brooklyn
80 Cornellia, Brooklyn, New York
Gross Offering
$220,500 USD
Number of Units
3.5
Available Units
0.00
Average Cost per Unit
$63,000 USD
Average Annual Yield
16.00%
Maturity
24 months
No time left
Link
Offering short link
Raise Details
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Gross Offering$220,500 USD
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Available Units0.00
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Minimum Investment$30,000 USD
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Maximum Investment$200,000 USD
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Open DateSep 01,2020
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Closing DateSep 30,2020
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Investment TypePreferred Equity
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Maturity24 months
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Real Estate UseResidential
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Maturity End DateSep 30,2022
Type
| Type | Number of Units | Available Units | Cost per Unit | Gross Offering | Annual Yield | Term |
|---|---|---|---|---|---|---|
| Preferred Equity | 3.50 | 0.00 | $63,000.00 USD | $220,500.00 USD | 16.00% | 24 months |
| Totals | 3.50 | 0.00 | $220,500.00 USD |
Executive Summary
Four Arrow Funding, Inc. (“FAF”) is issuing five (5) $70,000 participation units (the “Units”) raising $350,000 of Preferred Equity (the “PE”) for the recapitalization and redevelopment of 80 Cornelia Street, Brooklyn, NY 11221 (the “Property”). Chesterfield Faring, Ltd. (“CFL”) arranged a new $1.5 million first mortgage loan (the “Loan”). CFL owns 50% of FAF. The Property is a three (3) family house located in the Bushwick area of Brooklyn, one of the fastest growing markets with great potential appreciation in NYC.
Highlights
- Risk Migation
- Stable Rents
- Fix and Flip
- Positive Sponsor Profile
Comments
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