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580 Crown Street
580 Crown Street, Unit #3, Brooklyn, New York
Gross Offering
$850,000 USD
Number of Units
10
Available Units
0.00
Average Cost per Unit
$85,000 USD
Average Annual Yield
18.00%
Maturity
18 months
No time left
Link
Offering short link
Raise Details
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Gross Offering$850,000 USD
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Available Units0.00
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Minimum Investment$20,000 USD
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Maximum Investment$850,000 USD
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Open DateJan 01,2023
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Closing DateJan 31,2023
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Investment TypeFirst Mortgage
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Maturity18 months
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Real Estate UseResidential
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Maturity End DateJun 30,2024
Type
| Type | Number of Units | Available Units | Cost per Unit | Gross Offering | Annual Yield | Term |
|---|---|---|---|---|---|---|
| Series A | 5.00 | 0.00 | $150,000.00 USD | $750,000.00 USD | 16.00% | 18 months |
| Series B | 5.00 | 0.00 | $20,000.00 USD | $100,000.00 USD | 20.00% | 18 months |
| Totals | 10.00 | 0.00 | $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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