Bushwick, Brooklyn Apartment Repositioning

12.0%
gross ann. return*
0 mo.
term remaining
C
Investment Complete
Current Ann. Return 8.0%
Accrued Ann. Return 4.0%
Gross Ann. Return* 12.0%

Investment Details

Current Ann. Return 8.0%
Accrued Ann. Return + 4.0%
Gross Ann. Return* 12.0%
Term Remaining 0 of 36 mo.
Min. Investment $5,000
Investment Size $1,350,000
Underlying Security Preferred Equity

Investment Summary

This is an opportunity to invest in Notes tied to a preferred equity investment in a 24 unit multifamily portfolio located at 290 & 294 Harman Street, in the Bushwick neighborhood of Brooklyn, NY. Bushwick is currently experiencing tremendous growth due to its proximity to both Manhattan and Williamsburg. According to a recent report by real estate advisory firm MNS, overall rents in Bushwick have risen 13% since September 2012 and two-bedroom units have seen a 16% year-over-year increase in price.

Projected Return Calculator

Principal
$5,000
Gross Annual Return* 12.0%
Term 36 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
C1
A
1
2
3
B
1
2
3
C
1
2
3
D
1
2
3
E
1
2
3
Category Assessment Points
Capital Senior to Fundrise 50-59% 2
Capital Junior to Fundrise 20-29% 3
Location Primary 1
Occupancy Leasing 2
Development Phase Value-Add 2
Sponsor’s Track Record $50-249 million 2
Overall 12 C1

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 21.0% $1,478,935
Preferred Equity Fundrise Offering 19.2% $1,350,000
Debt 59.8% $4,200,000
Total 100.0% $7,028,935

Property Summary

The portfolio consists of four adjacent multifamily apartment buildings totaling twenty-four (24) individual units. Two of the buildings have frontage on Harman Street. The remaining two properties are separated from the Harman Street buildings by an interior courtyard. The apartment units are made up of both 2-bedroom / 1-bathroom railroad style units.

Address 290 Harman Street
City & State Brooklyn, NYC
Neighborhood Bushwick
Product Type Residential / Multi-Family
Project Phase Value-Add / Reposition

Market Summary

The properties are located in a growing, supply-constrained market with excellent access to public transportation. Bushwick has traditionally been a working class neighborhood, but recently the area has seen a great influx of young artists, professionals, recent graduates and hipsters mainly due to its close proximity to Manhattan. The quick and direct commute to Manhattan via the L and JMZ train lines is an important feature of this neighborhood.

About the Sponsor

James Wiseman

Principal

Jacob Sacks

Principal

Cayuga Capital Management LLC (“CCM”) is a real estate operating partner, development manager and property manager based in Brooklyn, New York. CCM identifies properties not operated at best and highest potential and invests to maximize returns. This is achieved through repositioning, renovation, or ground up construction.

View full profile

Fee Schedule

Gross ann. return* 12.0%
Servicing and administration fee -0.3%
Net ann. return to investors 11.7%

Other Past Investments

DC Luxury Condo Loft Conversion

Washington, DC
D
Gross Ann. Return* 15.0%
Term Remaining 0 mo.
Underlying Security Preferred Equity

Atlanta Condo Pre-Development Loan

Atlanta, GA
B
Gross Ann. Return* 14.0%
Term Remaining 0 mo.
Underlying Security Senior Debt