Bridging Bali and Brooklyn: Fatimah's Struggle for a Riba-Free Homestead

Fatimah Rahmadani
is organizing this fundraiser.
430 Kosciuszko St #2, Brooklyn, NY 11221
Created
December 21, 2022 4:35 PM
Financial position
$171,800
raised of goal
$859,000
34
Investors
Join the Waitlist
Monthly Residency Payment:
5300
Initial Investment:
Price Per Share:
Total Shares:
10000
Fatimah Rahmadani

Salaam! I'm Fatimah Rahmadani, with a heart full of Indonesia's lush landscapes and the echo of gamelan music. NYC's skyline might contrast Bali's serene beaches. Still, I am here, a Balinese woman in Brooklyn, aspiring to merge both worlds while preserving my role as a devout homemaker.


Heritage & Hopes:

In the rice terraces of Bali, families come together in harmony, guided by the principles of Islam. As the city lights of NYC replaced the traditional lanterns of my homeland, I carried with me the dreams of recreating that very essence in the heart of this metropolis.


The Dilemma:

While I cherish NYC's diversity, the city's formidable costs and the constant shadow of riba have often challenged my dreams of creating a space to nurture my family in line with my beliefs and traditions.


The Path Chosen:

Drawing strength from my Balinese heritage and firm resolve to stay true to my faith, I delved into the avenues of halal financing and the complexities of the NYC housing market, determined to create a sanctuary that harmoniously blends my East and West experiences.


Why Your Support Matters:

By joining me on this journey, you're doing more than supporting a dream home; you're helping safeguard the values and traditions that have shaped me. You're ensuring that the soulful melodies of Indonesia find their rightful echo even in the bustling streets of Brooklyn.


The Bigger Picture:

Your contribution is a testament to the strength of community and unity. It promises a brighter future where faith is undeterred by financial challenges and traditions find their rightful place, even miles away from home.


Embark on This Adventure:

Let's weave together the stories of Bali's tranquility and Brooklyn's vibrancy. Join hands with me, and together, let's craft a home where dreams and traditions unite under the guiding principles of Islam.


Closing Words:

My gratitude knows no bounds. As I merge the horizons of Bali and Brooklyn, your support is the beacon guiding my way. Let's etch a tale of faith, resilience, and cultural harmony.

Warm regards,

Features:

430 Kosciuszko Street is the newest boutique condominium in the vibrant and highly sought after neighborhood of Bed Stuy. This stunning 5-unit condo is comprised of a one-bedroom duplex and four two-bedroom residences with iconic views of the City and Downtown Brooklyn. Conveniently located blocks away from the J train and Kosciuszko Park, this location has everything you could want in a cool Brooklyn neighborhood.  

Unit 2 is a graciously configured 915 ft² 2 bedroom / 1 bath residence. This home is blessed with breathtaking Northern and Southern views that allow for an abundance of natural light throughout the day. Another impressive feature of the unit is the private outer vestibule with ample closet and storage space.

Total Investment Value
Home Cash Price
859000
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
5300
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:
Fatimah Rahmadani
Bedford Stuyvesant, NY
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