Rebuilding a Riba-Free Life After Divorce

Hana Hamad Story:
is organizing this fundraiser.
1421 Hancock St #4F, Brooklyn, NY 11237
Created
2 years ago
Household Change
$327,000
raised of goal
$545000
65
Investors
Join the Waitlist
Monthly Residency Payment:
$3,540
Initial Investment:
$14,795.63
$0
Price Per Share:
$59.18
Total Shares:
10000
Hana Hamad Story:

Introduction:

Salaam! I'm Hana Hamad, a native New Yorker now standing at the crossroads of change and opportunity. As the hustle and bustle of the Big Apple continues around me, I embark on a journey to find a home that doesn't just shelter me but resonates with my faith. Join me as I chase a dream that intertwines Islam's tenets with the bricks and mortar of NYC.


The Beginnings:

With its towering skyscrapers and echoing streets, this city witnessed the most challenging phase of my life – my divorce. The emotional storm left me yearning for a fresh start, a new sanctuary. But the dream of a home, especially one free from riba, seemed more like a distant star in the vast NYC night sky.


The Vision:

But amidst these challenges, a dream was born. A vision of a home where the walls reverberate with peace, where every brick and beam aligns with my Islamic values. A place free from the chains of interest, where every room echoes with memories of perseverance and faith.


The Quest Begins:

And so, with renewed vigor and unwavering faith, I plunged into the depths of halal financing and the intricacies of NYC real estate. I surrounded myself with individuals who understood the nuances of the housing market and respected and upheld my determination for a riba-free environment.


Your Role:

This isn't just my journey; it echoes the aspirations of countless souls seeking homes that mirror their faith. By supporting my endeavor, you're not just funding a house; you're nurturing a dream, laying the foundation for a movement prioritizing faith over finances.


Why It Matters:

Imagine an NYC where believers like us don't compromise, where our homes stand tall, not just as structures, but as testaments to our faith. Your involvement will pave the way for a future where our community is not bound by conventional financial constraints but uplifted by Islam's principles.


Join My Quest:

I extend my hand, inviting you to be part of this pivotal journey. Together, let's traverse the winding lanes of NYC, searching for a space where our hearts find peace and our faith finds a home. By joining my quest, you're contributing funds and weaving a tapestry of hope, religion, and resilience.


Conclusion:

Thank you from the depths of my heart for considering walking this path beside me. Every step, every brick, every prayer counts. Let's craft a narrative where the spirit of Islam thrives in the heart of NYC. Join me, and together, let's build a riba-free legacy.


Jazakallah khair,

Hana Hamad.

Features:

421 Hancock is a 6 unit boutique condominium, with a dreamy combination of industrial vibes and modern finishes. Exposed steel beams, large bay windows, central heat and air, and black and gold finishes are just a few of the elements that make this new development condo building stand out from the rest!

Total Investment Value
$591,825
Home Cash Price
$545,000
Closing costs
$0
$13,625
Upfront LLC fees:
$500
Dyur listing fee (6%)
$32,700
Annual gross rents
$52,125.9
Property taxes
$0
$3,542.5
Homeowners insurance
$2,205
Property management Fee (8%)
$3,398.4
Annual LLC administration and filing fees
$500
Annual cash flow
$0
$42,480
Monthly cash flow
$3,540
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:
Hana Hamad Story:
Bushwick, NY
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