A Yemeni Baker's Quest: From Rent to Ownership

Hadi Al-Mohamed
is organizing this fundraiser.
764 Saint Johns Pl APT 4A, Brooklyn, NY 11216
Created
January 12, 2023 1:09 AM
Independence
$195,600
raised of goal
$489,000
39
Investors
Join the Waitlist
Monthly Residency Payment:
3396
Initial Investment:
Price Per Share:
Total Shares:
10000
Hadi Al-Mohamed

Salaam Aleikoum,

I am Hadi Al-Mohamed, a baker from Yemen, kneading dreams amidst the aroma of fresh bread in Queens. Yet, the store I bake in isn’t mine, and the thought of eviction clouds my sunny aspirations.


The Beginnings:

In Sana’a, amidst ancient walls, my ancestors baked. Here, I continue the legacy, but within rented confines.


The Vision:

A bakery, owned and filled with the warmth of tradition, where every bread speaks of freedom.


The Quest Begins:

Dyur promised a pathway, a journey from being confined to genuinely liberated.


Your Role:

Your contribution ensures that traditions don’t fade within leased walls.


Why It Matters:

By backing this, you’re preserving a heritage, ensuring it thrives in owned spaces.


Join My Quest:

Together, let’s bake dreams in spaces that resonate with actual ownership.


Conclusion:

Your aid rises hopes, much like dough in an oven, crafting legacies.


Warmly,

Hadi Al-Mohamed

Features:

Located just three blocks from Prospect Park and in one of the city's most diverse and amenity rich neighborhoods, The 764 Saint John's Place Condominium introduces 12 reimagined, converted condominium studio and one-bedroom residences. 764 St John's Argyle offers refreshing approach with its smart layouts and picturesque views.

Residence 4A is a 489 SF one-bedroom and one-bathroom, offering incredible value for the space and the quality. This is pet friendly new development condominium conversion; non-elevator. Sublet from day one. Pied a terres, investors, and co-purchasers are all welcome. Minimum 10% down. Closings expected to commence in Q4 2022; CO is in place.Units feature refreshing aesthetics and comfortable, good flow layouts that maximize incoming natural light. Modern and pre-war elements complement each other to establish a contemporary and neutral design. Kitchens include custom designed cabinetry with soft closing hinges and tracks, premium natural stone countertop, and a high-end appliance package. Bathrooms feature white subway wall tiles, custom vanities, harmonizing traditional and modern elements. Additional unit amenities: hardwood flooring and audio/video Aiphone intercom.

Total Investment Value
Home Cash Price
489000
Closing costs
Upfront LLC fees:
500
Dyur listing fee (6%)
Annual gross rents
Property taxes
Homeowners insurance
2205
Property management Fee (8%)
Annual LLC administration and filing fees
500
Annual cash flow
Monthly cash flow
3396
Why New York?
Here are the latest trends in the NYC real estate market as well as the statewide market. A prolonged scarcity of properties on the market, along with high prices and high mortgage rates, continues to impede the New York housing market. According to the housing report released by the New York State Association of REALTORS®, the number of properties for sale declined for the 37th straight month in year-over-year comparisons, while mortgage rates remain more than double what they were at this time last year.

The number of available properties for sale fell by 12%, from 40,321 in November 2021 to 36,490 this month. In year-over-year comparisons, the months' supply of dwellings stayed unchanged at 3.2 months. Months' supply is the number of months it would take to sell the present inventory of homes at the current sales rate. A balanced market has a supply of six to six and a half months.
Graph depicting the median sale price trend in New York, NY, from 2018 to 2023. The line graph shows two trends: one for New York with prices fluctuating around $800K, indicated in black, and another for the United States overall, with prices around the $400K mark, shown in orange. Source and more details available on Redfin.
Organizer:
Hadi Al-Mohamed
Crown Heights, NY
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