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580 Crown Street

$170,000
Amount Raised
$850,000
Goal
20% Complete (success)
20%
No time left
Invest

Raise Details

  • Gross Offering
    $850,000 USD
  • Available Units
    8.00
  • Minimum Investment
    $20,000 USD
  • Maximum Investment
    $850,000 USD
  • Open Date
    Jan 01,2023
  • Closing Date
    Jan 31,2023
  • Investment Type
    First Mortgage
  • Maturity
    18 months
  • Real Estate Use
    Residential
  • Maturity End Date
    Jun 30,2024

Type

Type Number of Units Available Units Cost per Unit Gross Offering Annual Yield Term
Series A 5.00 4.00 $150,000.00 USD $750,000.00 USD 16.00% 18 months
Series B 5.00 4.00 $20,000.00 USD $100,000.00 USD 20.00% 18 months
Totals 10.00 8.00 $850,000.00 USD

Executive Summary

Overview. Chesterfield Faring Ltd (“CFL”) is offering participations in a non performing first mortgage loan (the “Loan”) secured by Condominium Unit #3 (the “Condo”) at 580 Crown Street, Brooklyn New York 11213. The current Loan basis is $900,000 growing at 18.0% per annum. The cost basis is $850,000. CFL has unique knowledge of the Condo. An affiliate of CFL, Four Arrow Funding, Inc. (“FAF”) provided loans to the borrower secured by the Condo plus two other properties.

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