The Assemblage 25th Street Project investments start from $20,000 USD

The Assemblage 25th Street Project investments start from $20,000 USD

INVESTMENT SUMMARY

The Assemblage/25th Street is a project that traditionally only wealthy real estate tycoons could have invested in. Thanks to crowdfunding, investors from all over the world can have access now to returns that weren’t available to them before.

Tapping into the booming collaborative workspace market, Prodigy Network enters the industry with its signature new project: The Assemblage. The Assemblage will be home to a community of top creators and entrepreneurs, looking to connect and build relationships to achieve inspiring goals.

The property, an existing 12-story building located at 114 East 25th Street, at the heart of NoMad in Manhattan, will comprise 48,000 sq ft of collaborative workspace. Additionally, there will be a rooftop deck with exceptional views to the astonishing skyline of NY. The project will be designed by the globally recognized New York City–based design boutique, Meyer Davis, which specializes in residential, hospitality, retail, and workplace environments, throughout the U.S. and abroad.

In April 2015, Prodigy Network signed an option agreement for the acquisition of this building. The equity raised, together with equity from the sponsor, and traditional financing, will finance the acquisition and development of the current 48,000 sq ft structure.

Before investing, investors must read the offering memorandum, subscription agreements and other related transaction documentation, to have a robust understanding of the opportunity, its conditions and its risks and mitigants.

THE CONCEPT

The property will be home to Assemblage, a community of top creators, innovators, artists, scientists, and entrepreneurs, looking to connect and build relationships to achieve inspiring goals that will change the world.

We envisioned innovative leaders inhabiting the working and living space of Assemblage— a space where the collaborative nature of our guests will be engaged. Imagine, the cross pollination between individuals from different fields, enabling unique opportunities that breeds positive change through innovation and collaboration.

The spirit of creativity and collaboration has been present since the inception of Assemblage, the first crowd-designed project in New York, if not in the world. This was the result of a crowdsourcing competitionthat we launched through Prodigy Design Lab.

Beyond the walls of our guests work/personal life, they will come to Assemblage to connect and curate pioneering ideas. The community will be inspired by the Ubuntu philosophy: “I Am Because You Are”. Assemblage is built with the intention to nurture great minds, to foster creative energy that will inspire change for those who inhabit the space.

EXIT STRATEGY

We expect to exit this investment after three to four years of operation (Q1-2017 to Q1/Q2 2020), by selling the property.

– Operating Assumptions:

We anticipate that there will be approximately 900 members whom pay an average of $900 per month.

– Sale Assumptions:

Capitalization rate of approximately 8.50% at a value of US$ 2,050/sq ft.

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