Hamptons Luxury Waterfront Residence

gross ann. return*
0 mo.
term remaining
Investment Complete
Current Ann. Return 0.0%
Accrued Ann. Return 10.5%
Gross Ann. Return* 10.5%

Investment Details

Current Ann. Return 0.0%
Accrued Ann. Return + 10.5%
Gross Ann. Return* 10.5%
Term Remaining 0 of 12 mo.
Min. Investment $5,000
Investment Size $1,000,000
Underlying Security Preferred Equity

Investment Summary

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.

Key Deal Points

Experienced project sponsor

First Dunes has been developing, designing and building custom luxury homes in the Hamptons and Long Island’s Gold Coast for two decades. We are a subsidiary of Chatham Development Company, a trusted name in residential real estate with 30 yearsâ?? experience in developing more than 1,500 luxury residences.

Luxury market

The Hamptons are a group of pristine villages and hamlets located on the far southeastern end of Long Island, NY. As a popular destination for wealthy vacationers, median home values have become as high as $4.2M in some locations. In the Westhampton submarket, home sales over $1M have doubled in the last quarter alone.

A unique property

This property is located on the West Hampton Dunes barrier island with frontage to Moriches Bay. Limited developable land on the island and the bay-front location of this property make it highly sought after for luxury homebuyers.

Projected Return Calculator

Gross Annual Return* 10.5%
Term 12 mo.
Total Return*

Fundrise Rating

The Fundrise Rating is a letter rating ranging from A to E that provides investors with the ability to easily compare investments across the Fundrise platform. The Fundrise rating measures the relative risk-adjusted return of an investment. Learn more
Category Assessment Points
Capital Senior to Fundrise 1-49% 1
Capital Junior to Fundrise 40% or more 1
Location Primary 1
Occupancy Vacant 3
Development Phase Ground-up 3
Sponsor’s Track Record $250 million or more 1
Overall 10 B2

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.

Risk-Adjusted Return

Capital Structure

Type Source % of Total Amount
Equity Developer 54.6% $1,202,074
Senior Preferred Equity Fundrise Investment 45.4% $1,000,000
Total 100.0% $2,202,074

Property Summary

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
Neighborhood The Hamptons
Product Type Residential / Single Family Home
Project Phase Ground-Up / Under Construction

Market Summary

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.

About the Sponsor

Harvey Gessin


John McInerney

Senior Vice President

Chad Gessin

Vice President

Kyla Gessin Stern

Vice President

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.

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