Empire Real Estate Fund, LLC
Northern New Jersey Real Estate Acquisition and Reconstruction
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Empire Real Estate Fund, LLC (the “Company”, or the “Fund”, or “Empire Fund”) seeks to purchase up to five (5) properties in Northern New Jersey. BuildPartner LLC (the “Fund Manager”) has identified a compelling market opportunity for the acquisition and reconstruction of several older ranch style homes located in certain carefully selected towns and neighborhoods in Northern New Jersey. This Memorandum will outline the Fund’s proprietary strategies for executing on these opportunities.
Currently, in Northern New Jersey’s Bergen County there is a shortage of new construction homes available for sale, and few opportunities to build new homes as lots suitable for building are rarely available in desirable locations. Most of the new homes available are built on less desirable fringe lots.
The Company plans to rehabilitate these properties to increase the value. A rehab job will typically include a new kitchen, new bathrooms, newly finished floors, new windows, raise ceiling height to 9’ and add a second level to maximize the potential value and marketability of the property. In addition to adding value to the home, the new upper level addition provides additional flexibility in re-designing the lower level. For example, two new bedrooms upstairs allows for re-purposing the two bedroom downstairs.
Once the upper level is added and the lower level is re-constructed, the front of the home is also completely redesigned so that the final appearance is that of a new construction home. The newly re-designed home will compete for sale with “New Construction Homes” which are in very limited supply, but high demand in Bergen County.
Empire Fund’s primary focus is creating and maintaining investor wealth through a well-conceived short term real estate investment strategy. The management team’s collective 70 years of experience and abilities provide an advantage over individuals seeking similar investment strategies by allowing the Fund to quickly and efficiently address all real estate acquisition and management issues. The Fund’s ability to invest with aggregated capital also provides enhanced negotiation leverage as the Fund can take advantage of buying opportunities quickly and without the typical delays encountered by other purchasers that require institutional financing to close on a property. By investing in a Fund with experienced and specialized management, investors are freed from the time and financial demands required for individual real estate investment.
"While the number of home sales has increased across all price ranges this year, the largest gain has occurred for homes priced over $600,000, rising by 9%, while homes priced below $400,000-$599,999 have seen the smallest increases"
The median home value in New Jersey is $308,300. New Jersey home values have gone up 5.0% over the past year and Zillow predicts they will rise 2.3% within the next year.
The Company is currently managed by seasoned business and sector professionals dedicated to the success of the Company and efficient execution of its planned operations
Operations Manager and CEO
Described by his peers as a focused, goal-oriented, idea person, Farley Ressler approaches every task with both an entrepreneurial mindset and an innovative problem-solving skill set with which to provide the best work possible for his clients.
For over two decades, Farley has built upon his professional experience by embracing leadership roles in the fields of Mortgage Banking and real estate investing. Having acted as President to several Real estate related businesses over the course of Thirty years. “Within two years of starting” the Mortgage Company we became one of the largest private Residential Lending companies in New Jersey employing over 150 people and closing over 200 mortgage loans a month. Farley also formed and managed a separate commercial lending division that closed over 100 million dollars in business loans.
Farley has cultivated an innovative affinity business network throughout New Jersey and as such, his expertise has been called upon by many attorney’s as an expert witness in litigation cases involving Lending practices.
Overall, Farley is a dedicated professional who is interested in the fields of real estate, modern renovations, architectural design, home decor and most importantly, providing an enjoyable experience for clients. From his many years of experience, Farley has come to value the importance of maintaining an honest and integral client/provider relationship. Farley not only enjoys working alongside people who have the same focus and desire to build strong, one of a kind, relationships with clients, but he also understands the importance of building trust with each partner and client he comes across.
Kenneth is our Construction Project Manager Throughout his 50 years of experience as a certified IBEW electrician, project manager, safety supervisor, course developer, and instructor, Kenneth Bieber has had the opportunity to learn and master every aspect of electric work that makes him successful at what he does. Some of the noteworthy companies with which Kenneth has worked closely include, Chase Bank, NJ Transit, Unity Electric, and Beach Electric. You may recognize Kenneth’s work on projects such as the George Washington Bridge Toll Plaza and Giants Stadium.
Now, after years of being in the field, Kenneth is developing and instructing courses aimed at preparing young electricians with the skills needed to safely and effectively complete each and every job no matter the level of difficulty. Using these classes, he has taught over 1,000 young apprentices and foremen various industry standards along with valuable lessons learned throughout his years of experience. Today, Kenneth has created and currently instructs 4 different courses. He has been invited to travel to the University of Michigan teach his course material to other instructors.
Kenneth’s area of experience includes, but is not limited to, blueprint reading, installing healthcare systems, fire alarm systems, lightning protection systems, rigging and hoisting, security systems, installing lighting systems, and completing accurate estimations.
Additionally, as a project manager, Kenneth has experience managing teams, evaluating employees’ progress, training new employees, organizing and planning construction projects, and making sure code standards are met.
Outside of his professional life, Kenneth remains motivated and disciplined, as a 5 time New York City Marathon Runner, Kenneth understands the value of hard work, and commitment Kenneth also enjoys staying active by skiing, and hiking.
The Company is offering a minimum of 1,165,000 and a maximum of 2,875,000 Membership Units at a price of $1.00 per Unit. Upon completion of the Offering between 1,165,000 and 2,875,000 Membership Units will be issued.
The Membership Units sold through this Offering shall participate in distributions of net profit from operations on the following schedule and terms; (i) a distribution to the Members to equal an annual eight percent (8%) non-compounding cumulative Preferred Return Distribution (the “Preferred Return”) distributed to Members annually and calculated based on the Member’s invested capital contributions and; (ii) a distribution to the Members on a pari passu basis equaling eighty-five percent (85%) of any additional net profit from operations with the Manager participating in fifteen percent (15%) of distributable net profit. Net distributable profit from the liquidation of real estate assets shall be distributed on the following schedule and terms; (i) one hundred percent (100%) of distributable net profit to the Members until such time as any accrued Preferred Return is paid and; (ii) one hundred percent (100%) of distributable net profit to the Members until such time as invested capital contributions have been repaid and; (iii) remaining net profit will be distributed eighty-five percent (85%) to the Members and fifteen percent (15%) to the Manager.
Empire Real Estate Fund, LLC — Farley Ressler — 121 Frank Ct. — Mahwah, NJ 07430 — (201) 932-1150
The Empire Real Estate Fund, LLC 506(c) Investor Portal provides the opportunity for you to become approved as a “prospect", and learn more about our investment opportunity. You will have:
We will upgrade your account to “Investor” level access, which provides all of the prospect level access and: