This is an opportunity to invest in the preferred equities tied to a mixed-use development project located at 62-41 Forest Avenue, NY, 11385 (the “Property”). The Property is situated on the east side of Forest Avenue, between Harman Street and Greene Avenue in the Ridgewood neighborhood of Queens, City and State of New York (the “Neighborhood”). The subject site is a rectangular shaped 17,540+/- square foot of land and the maximum buildable area is 35,080+/- square feet. Currently it is a vacant land. Our team, Eastone Capital, serves as the developer of this project, acquired the site at the sale price of $3,800,000 in July 2014 and we planned to develop a mixed-use property including residential units, commercial space, community facility, and parking garage.
Buildable Area: Total 35,080 square feet
Residential: 26,080 square feet
Commercial: 4,000 square feet
Community Facility: 5,000 square feet
Number of Parking Space: 18