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New Offering: Greenwich Village Multi-Family Property

Email sent: Jun 29, 2020 7:26pm

Is this your brand on Milled? You can claim it.

Launching Thursday, July 2nd at 6PM ET

The Opportunity
Investors have the opportunity to indirectly participate in the junior position of a first mortgage loan secured by a multi-family building in Greenwich Village in Manhattan, within close proximity to both Washington Square Park and the NYU campus.

The property has an “as-is” appraised loan-to-value ratio of 56.5%. The renovation work is expected to be completed within 9 months, and is subject to a completion guarantee. Upon completion, the appraisal concluded an “as-stabilized” loan-to-value ratio of 42.7%. At the end of the term, the loan is expected to be repaid through a sale or refinance of the property.

Payments
Yieldstreet investors can expect to receive monthly interest payments throughout the term of the loan at an annualized rate of 8.20% over an extended term of 36 months. Principal is expected to be repaid at maturity.

Protecting Your Investment
The investment is secured by a seven-story Greenwich village multi-family building consisting of 72 residential units and ground-floor retail space. Historically the area’s submarket has had a low vacancy rate, which was 3.2% at the end of 2019.

The Originator
As of March 2020, Avant Capital Partners has originated 85 loans, of which 69 were in the New York Metropolitan Area.

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