The Assemblage Park Av
This is an opportunity to invest in the capital offering for the renovation of commercial property of institutional quality, located at 329-331 Park Avenue South, Manhattan, New York.
The Assemblage / Park will have more than 3,200 square meters of coworking space and 650 square meters of high traffic commercial space.
The building is currentlyunder development. Operations are expected to begin in 3Q of 2018, managed by The Assemblage, the Prodigy Network brand dedicated to coworking and coliving. The operation of the property will be done jointly with Kokua, an independent hotel operator with more than 10 years of experience in the hospitality sector and has worked with well-known brands such as Starwood, Hilton and Marriott.
Members and investors of The Assemblage / Park will have priority access to the 146-acre hotel property in Bethel, New York, designed by Bjarke Ingels Group and Soren Rose Studio. Conferences, workshops and events will be held throughout the year. This hotel is two hours from Manhattan and will open doors in Q2 2019.
|Annual IRR||10% - 18%|
|Preferred annual return||8% Payable as of June 2019 (4% semi-annual).|
|Additional return per year||2% - 10% Payable at the end of the investment.|
|Approximate investment period||4 yeas.|