National Realty Investment Advisors, LLC (NRIA) is pleased to offer qualified investors the opportunity to participate in the acquisition, complete renovation, and conversion of a four-unit multifamily property into a boutique three-unit high-end condominium development, in Carroll Gardens, Brooklyn (NY). The property is ideally located along a tree-lined block between Clinton & Court Streets. Court Street is home to countless restaurants, shops, grocers, and various retail outlets, just 2-miles from Manhattan, 1.2-miles from the Brooklyn Bridge, and within a short-walking distance to numerous subway lines making for an easy commute anywhere in NYC.
The investment plan for this investment property covers financing its development, as well as the acquisition. NRIA is offering a guaranteed 10% IRR (internal return rate) with this investment deal, with distribution as follow; 7.5% paid monthly during development, and 2.5% accrued on exit. The estimated completion time for the project is 21-months.
Upon acquisition, NRIA has devised a development plan that includes a complete renovation to efficiently maximize & modernize the usable square footage. The renovation period will be followed by an estimated 3-month marketing process, whereby the finished condominium units have been conservatively estimated to command ≈$1,318psf on average.
This opportunity is available to a limited number of accredited investors. Interested investors can learn more by calling (201) 210-2727 or contact us.