|Current Ann. Return||0.0%|
|Accrued Ann. Return||+
|Gross Ann. Return*|
|Current Ann. Return||0.0%|
|Accrued Ann. Return||+ 10.5%|
|Gross Ann. Return*||10.5%|
|Term Remaining||0 of 12 mo.|
|Underlying Security||Preferred Equity|
This is an opportunity to invest in a series of Notes tied to the performance of a preferred equity investment in Chatham Development Company’s new 3,500 square foot home development in the Westhampton submarket of the iconic Hamptons, NY resort town. The bay-front home will have five-bedrooms, four and one-half bathrooms. Construction on the property is more than 75% complete with only interior finishes remaining and completion expected in August 2014. Chatham has funded all construction costs to date with equity.
Interest payments on the notes will be tied to the distribution schedule under the preferred equity investment, as follows:
One (1) Year Term: 10.50% simple interest accrued. All accrued interest will be paid out at maturity.
|Gross Annual Return*||10.5%|
|Capital Senior to Fundrise||1-49%||1|
|Capital Junior to Fundrise||40% or more||1|
|Sponsor’s Track Record||$250 million or more||1|
The information contained in the Fundrise Rating is for informational purposes only. It is impersonal and not individualized for any specific investor's financial situation and is not investment advice. These ratings are not intended to be, nor should you interpret them to be, a prediction of how a particular investment will actually perform. You should always carefully consider investments in any security and be comfortable with your understanding of the investment. You may also consider consulting investment professionals.
|Type||Source||% of Total||Amount|
|Senior Preferred Equity||Fundrise Investment||45.4%||$1,000,000|
The property is located at 826 Dune Road in Westhampton Dunes, NY. This bay-front property will feature an in-deck infinity pool, 3,500 square feet of living space, five-bedrooms, four and one-half bathrooms and an elevated walkway to Moriches Bay. To meet the luxury market, First Dunes development has designed the home to feature amenities and finishes that will be competitive in this top luxury market.
|Address||826 Dune Road|
|City & State||Westhampton Dunes, NY|
|Product Type||Residential / Single Family Home|
|Project Phase||Ground-Up / Under Construction|
The Hamptons is a highly sought after market for wealthy vacationers throughout the New York City Tri-State area. Home values have been quickly growing in the western submarket where 826 Dune Rd is located. In the first quarter of 2014, home values in Westhampton rose by 25% to $793,000 and sales volume increased by 38%. Just down the road from the subject property, Chatham Development sold 845 Dune Road for $3.8M in February 2014.
Chatham Development Company is a multi-generational, family owned and operated real estate development company. Our primary focus is on residential and mixed-use properties and development opportunities in New York City and Long Island. We have a broad range of experience and skills spanning from development, construction, marketing and sales of master planned communities and condominiums to construction of storm-fortified coastal vacation homes to management of income-producing multi-tenant commercial properties.View full profile