Invest in our current projects
Williamsburg Metropolitan Ave, Brooklyn, NY Condominium Project
Invest in our Williamsburg Condominium project. This property is right next to the Apple store and 3 blocks from the river facing the Manhattan skyline. Extremely upcoming neighborhood and prices are soaring.
Condo Development in Williamsburg. Prime Land, 6 storied condominium project.
Lot area: 967 SF Approx.
Total floor area (Gross) 4000 SF + 700 Cellar = 4700 SF
The property will come with plans for 5 units, residential building with elevator. 4 x 1Brs and 1 x 2BRs penthouse duplex with private terrace.
Land Purchase: $1,700,000 (Need to Purchase Cash)
Construction total: $1,400,000 (Our Lender will fund 100% Rehab once we own the land)
Total Cost: $3,175,000 + Interests
Duration: 18-24 month
Per SQ Ft Sale Price: $1200 - $1300 / Sq FT
Sale Price: $5 million (will sell individual condos. Great market for within those price range for young corporates)
*All structural, engineering drawings, floor plans are completed.
Metropolitan Ave - Zoning Analysis and architect certification
Metropolitan Ave - floor plan (cellar - third floor)
Current Projects
1244 Putnam Avenue, Bushwick
We are converting a Brooklyn brownstone built in 1910, 2700 Sq. Ft. to a modern, energy efficient multi-family housing. Our architect and contractors are working meticulously to redesign the interior with utmost details and restoring the exterior to its original glamour and carefully modernizing the interior for the trendy Family. Below are the rendering of the interior, floor plans and work progress.
Purchase Price: $984K
Renovation: $200K
Market Value: $1.45 Million after Renovation
Fully funded by Fair Pattern
161-18 118th Road, Jamaica, NY
Foreclosed property purchased at 445K
Rehab: $80 K
Market Value: $725K
Investment Requirement for Bedstuy, Brooklyn Property - Great ROI!!
Currently we are seeking investment for purchasing and developing the below property and eventually more properties similar to the one below in and around Brooklyn.
Property Details
Hart St, Brooklyn, 11206
2880
3 Family, 9 bed 3 Bath
Pre-Foreclosure
Asking Price $1,250,000
MARKET AND OPPORTUNITY
Fair Pattern is primarily focused on purchasing and development of properties in an around Bedstuy, Bushwick and East Brooklyn.
Brooklyn is growing rapidly and due to the high cost of living in Manhattan and the close proximity many young corporates (28 – 45) are investing in homes and moving into Brooklyn.
Below is a latest report from New York Times showing real statistics on appraisal % of Bushwick homes compared to rest of New York.
Reference Link: https://www.nytimes.com/real-estate/guide/brooklyn/bushwick
Comparable Homes Sold in Bedstuy (City Data)
| Address | Sale Price | Sale Date | Sqft | Price/Sqft |
|---|---|---|---|---|
| 861 Lafayette Ave | $2,200,000 | 8/17/2017 | 2,532 | $868 |
| 318 Madison St | $2,300,000 | 5/1/2017 | 3,200 | $716 |
| 496 Van Buren St | $2,150,000 | 7/23/2018 | 3,150 | $682 |
| 602 Madison St | $1,655,000 | 5/2/2018 | 2,565 | $645 |
Want More Information? Contact Us! Contact Us
1460 Broadway
New York, NY 10036
© 2018 GrowthNy inc.