NEW YORK, June 4, 2015 /PRNewswire/ -- CityFunders today announced the launch of the first New York City-exclusive real estate investment crowdfunding marketplace. Led by a team of New York City real estate professionals with more than ninety years of collective experience, investors are now able to participate in a wide range of multi-million dollar debt and equity deals including multi-family, hospitality, commercial and industrial properties located in NYC.
At launch, investors have the ability to invest in the mezzanine loan for the acquisition of a mixed-use apartment building in Manhattan's Chinatown and the equity of a brand-new, 467 unit luxury rental tower in Long Island City.
CityFunders leverages the extensive experience and network of industry contacts of real estate veterans David Behin, Jerry Swartz, Ayush Kapahi and Albert Behin. "CityFunders fundamentally changes the way investors can participate in the nation's, if not the world's most vibrant, and profitable real estate market," said David Behin, CEO and co-founder of CityFunders. "Our platform streamlines investing in New York City real estate deals—the most complex in the United States—and shatters the barriers to entry for the retail investor." With more than $85 billion in completed transactions and a track record of maximizing yields on New York City investment properties, the CityFunders team is highly adept at selecting unique value propositions previously inaccessible to most investors. "Our entry point of $5,000 gives retail investors access to deals which were previously available only to the very wealthy or in-the-know," said Behin.
The core thesis behind CityFunders is that investors are looking for new ways to diversify their investment portfolios and maximize their returns. NYC real estate investing can provide those returns while the CityFunders transparent platform ensures that access to information is as important as the ROI generated. "The CityFunders team selects some of New York City's most promising debt and equity deals for potential investors [the crowd]. We put each and every deal through a rigorous underwriting process with a relentless focus on accuracy, viability, and profitability," says Kapahi, who is responsible for deal generation.
All deals sourced by the CityFunders team are ultimately vetted by a committee of leading New York City real estate developers and investors. The CityFunders committee has over two hundred years of collective experience in New York City real estate and has executed over a trillion dollars of transactions. "We wanted the guidance and second opinion of industry experts —real estate professionals who understand the many intricacies of the United States' most nuanced property market -- to add another invaluable set of eyes to the approval/funding process," Kapahi adds.
Following a final committee approval, CityFunders commits funds to sponsors from a secured $40MM credit facility, ensuring a lightning-fast close. "Funding of NYC's real estate deals is an extremely competitive business – especially for the good deals. For any funding entity, whether crowdfunding or traditional sources of capital, commitment to the deal is key. Without that, Sponsors of good deals will never work with you, reducing the platform to mediocre deals that couldn't get funded elsewhere," said Behin.
Once the deal has been vetted and committed to, investors can view a comprehensive profile of each deal, ask questions, and, ultimately, invest in the deal on CityFunders.com.
About CityFunders: CityFunders is a capital sourcing platform for New York City real estate investments. Led by a team of seasoned New York City real estate professionals, investors in the CityFunders network have access to exclusive debt and equity deals. For more information on CityFunders visit www.CityFunders.com.