Asset Avenue ‘Trumps’ the market within hours of launch

Real estate crowdfunding platform Asset Avenue launched their platform in style earlier this month by closing a deal for just under $500,000 within two days of the site coming online.

The agreement, worth $485,000 secures a commercial real estate loan backed by office space in Trump Palace, the tallest building in the Upper East Side neighborhood of New York City.

The Asset Avenue management team sees an important symbolism in this first deal and the message it sends to the industry and investors.

“Closing our first deal on a property like the Trump Palace, and within 48 hours, is indicative of what we plan to bring to the industry,” said Kevin Arrabaca, Asset Avenue’s president of real estate investments. “Investors in this deal are projected to earn a nine percent annual return, paid on a monthly basis, on a loan that is only 46 percent of the recently appraised property value.”

The Asset Avenue team will seek to make its name on the quality of the deal, as the perform significant due diligence before listing investment opportunities.  Over time the rest should take care of itself.

“Our model is simple,” offered Asset Avenue CEO and founder David Manshoory.  “Smart money follows great deals.”

Asset Avenue investors can invest as little as $10,000 per property, which provides both an entry point for new investors and a diversification opportunity for more experienced ones or those with more money to invest.

davidmanshoory

David Manshoory

“That is where Asset Avenue stands out,” added Mr. Manshoory.  “We are opening access to the kind of opportunities that investors used to only hear about after the biggest players had already snapped them up.”

Mr. Manshoory gave an interview to Bankless Times early in March about Asset Avenue and real estate crowdfunding. Please click here to read that piece.

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One Comment

  1. Asset Avenue seeks to build on strong 2014 second half | Bankless Times
    February 16, 2015 at 10:38 am

    […] Asset Avenue crowdfunds space in Trump Palace […]

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