Trying to pitch investors for a development deal.
Here's my spill.
Here's a unique opportunity.
Partnership (4 partners) will share the cost purchasing and converting a Harlem brownstone into several condos.
"The logic of condominium development from the developer's point of view is fairly simple. The slices of the pie are worth more than the entire pie, said Christa Giesecke, a German-born architect who lives on West 149th Street and is renovating her second condominium project. In the current market, the value of a condo apartment is far higher than the value of a rental unit, and a condominium brownstone can be worth more than single-family residences."
"For home buyers, this new wave of condo conversion in Harlem provides an opportunity to live in a neighborhood with small-scale buildings without having to buy the entire structure.
These apartments, typically floor-throughs and duplexes and ranging from $500,000 to $1.6 million, provide the grandeur of town house amenities, like terraces, gardens and fireplaces, and uncommonly good light for Manhattan, at prices far below those in other parts of Manhattan and even the condos with doormen and other amenities now going up on Harlem's avenues."
At current asking prices, the apartments in an unexceptional condo building can sell close to the highest price paid in Harlem for a restored historic town house, about $2.6 million, according to brokers." NY Times
On a 1.5M property, a 10% down payment is only 150k.
20% Down is 300k
At 10%, the cost per investor is only 37,500usd (versus 150k per individual).
At 20%, the cost is only 75,000usd (versus 300k per individual).
As you know, these converted condos sell for up to 1.6 million dollars.
I am willing to work with up to four qualified (good credit, financing,liquid capital for downpayment)investors at this time.
I am a licensed RE agent and know the Harlem RE market and current inventory very well.
Contact me via phone or email if you would like to minimize investment and maximize return with this amazing opportunity.
Here's my spill.
Here's a unique opportunity.
Partnership (4 partners) will share the cost purchasing and converting a Harlem brownstone into several condos.
"The logic of condominium development from the developer's point of view is fairly simple. The slices of the pie are worth more than the entire pie, said Christa Giesecke, a German-born architect who lives on West 149th Street and is renovating her second condominium project. In the current market, the value of a condo apartment is far higher than the value of a rental unit, and a condominium brownstone can be worth more than single-family residences."
"For home buyers, this new wave of condo conversion in Harlem provides an opportunity to live in a neighborhood with small-scale buildings without having to buy the entire structure.
These apartments, typically floor-throughs and duplexes and ranging from $500,000 to $1.6 million, provide the grandeur of town house amenities, like terraces, gardens and fireplaces, and uncommonly good light for Manhattan, at prices far below those in other parts of Manhattan and even the condos with doormen and other amenities now going up on Harlem's avenues."
At current asking prices, the apartments in an unexceptional condo building can sell close to the highest price paid in Harlem for a restored historic town house, about $2.6 million, according to brokers." NY Times
On a 1.5M property, a 10% down payment is only 150k.
20% Down is 300k
At 10%, the cost per investor is only 37,500usd (versus 150k per individual).
At 20%, the cost is only 75,000usd (versus 300k per individual).
As you know, these converted condos sell for up to 1.6 million dollars.
I am willing to work with up to four qualified (good credit, financing,liquid capital for downpayment)investors at this time.
I am a licensed RE agent and know the Harlem RE market and current inventory very well.
Contact me via phone or email if you would like to minimize investment and maximize return with this amazing opportunity.
