Private Air New York

www.privateairny.com Private Air New York | Winter 2015 42 INVESTMENTS I f you struggle with what to give the person on your list who defines the "person who has everything" label, here is a unique idea. City Funders, a crowdfunding platform that specializes in New York City real estate investments, offers shares in properties for as little as $5,000. at means that qualified investors can literally give someone – such as a family member -- a piece of the Big Apple as a gift. David Behin, CEO and co-founder of CityFunders, says his company, which launched earlier this year, gives people access to quality investments that they would never have had access to before. "CityFunders is an outgrowth of what we have been doing offline for years," Behin says. "We now are able to bring quality investments online." Currently, two locations are available – one is in Crown Heights, Brooklyn and the other is in Long Island City, Queens. e Crown Heights deal involves the repositioning of the debt on a mixed- use building at 259 Schenectady Ave. e Long Island City deal involves the development of new apartment buildings at 29-26 Northern Blvd. A committee of veteran New York City real estate developers and investors has approved both deals. "Any investment carries some risk, but we do a lot of homework on the project and on the sponsor to make the risks as low as possible," Behin says. Most CityFunders customers are U.S. professionals who are looking for a new way to add to their investment portfolios. "We are very close to being able to accept money from foreign investors," Behin adds. "We really roll up our sleeves and are always vetting deals," he states. "We vet about 20 to 30 each month, and pick one every two to three months." Behin says that, for now, his company is focusing on New York City real estate but that CityFunders may branch out to other cities in the future. "I'm extremely pleased with the way this all is going," he says. "In the past, I would meet investors through my own contacts or through friends of friends. Now, I am able to reach investors who come to me. It's great to offer people access to investments deals they would not have had before." For more information about CityFunders, visit http://academy.cityfunders.com/. BUYING A PIECE OF THE NEW YORK CITY SKYLINE By: Tricia Drevets CityFunders, created by some of the most respected and experienced names the industry, gives accredited investors from around the world insider access to prime New York City real estate.

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