344 West 72nd Street, New York, United States of America
Invested so farUS$ 0
Estimated Rent Per Month*
Estimated Rent Over 4 Years*
Estimated Return from Sale of Property*
Overall Average Annual Return*
*This amount is an estimate and should not be considered a guaranteed figure. The value of your investment can go up as well as down. In most circumstances the maximum duration of an investment will be 4 years.
The Chatsworth, built in 1904 and exquisitely renovated in 2015, is a historic Beaux-Arts building located on 72nd Street and Riverside Drive in the heart of Manhattan’s charming Upper West Side. The completely re-envisioned interiors by noted design firm Pembrooke & Ives offer the opportunity to purchase a completely updated home within a turn-of-the-century National Historic Landmark.
The building’s majestic lobby, which has been beautifully restored, features original hand-carved wood panelling, ornate ceiling details, white-oak herringbone floors and a beautifully furnished new reception area with Nero Gold marble concierge desk.
Residents are afforded every modern luxury as well as a full suite of new amenities including 24-hour concierge services, fitness centre with a yoga studio, children’s playroom, game room, lounge, private screening room, and catering kitchen. Bike storage, private storage units and accessory suites will be available for purchase.
Key Selling Points
Residences feature meticulous and graciously expanded floor plans with elegant details inspired by the pre-war era, including beamed ceilings, crown moulding, wood baseboards and white-oak herringbone floors. Custom high-performance kitchens are outfitted with polished marble slab countertops and stainless steel appliances by Wolf, Gaggenau and Miele, while bathrooms feature Kallista fixtures and Italian marble.
The Chatsworth’s location at the base of Riverside Park offers residences uninterrupted park and Hudson River views. All homes benefit from natural light from multiple exposures.
About the Area
New York City comprises 5 boroughs sitting where the Hudson River meets the Atlantic Ocean. At its core is Manhattan, a densely populated borough that’s among the world’s major commercial, financial and cultural centres. Its iconic sites include skyscrapers such as the Empire State Building and sprawling Central Park. Broadway theatre is staged in neon-lit Times Square.
Upper West Side
Every ten blocks of the Upper West Side seem to have their own character. The 70s and 80s have their share of “Classic Six” pre-war apartments (that’s two bedrooms, a living room, dining room and kitchen, plus a room for the maid or domestic staff, these days used as a home office) as opposed to a “Classic Seven,” which has all these rooms in addition to another bedroom.
Along Riverside Drive on the Upper West Side, some grand-scale apartment buildings with magnificent river views perfectly match the street’s name. Meanwhile, the southern bit of the Upper West Side embraces the Time Warner Center, which has some of the most spectacular luxury condos in the city, along with high-end shops like Coach and Hugo Boss, once-in-a-lifetime eateries like Per Se, and a giant subterranean Whole Foods that seems to have the capability to hold every resident of the Upper West Side at once.
More Information: https://thechatsworth.com/
Bricksave is an online real estate crowdfunding platform designed to make investing in luxury properties around the world simple and affordable. Bricksave allows investors to:
Your investment in a property on the platform is made via the purchase of shares in a registered Company that is created for the sole purpose of purchasing the designated property.
There is a different Project LLC. for each and every property; therefore you will always know that you are investing in the exact property as chosen by you.
Through the property LLC. you own a portion of the property. Every month, your Bricksave Member’s Account is credited with a share of the dividends proportionally to your ownership of the Company that owns the property.
Dividends are calculated as the Gross Rent collected from tenants, minus property-related costs (such as management fees, insurance, maintenance and taxes). Under no circumstances will you be required to contribute additional capital.
Dividends are paid out to crowdfunders at the end of each calendar year from the date that each project is closed.
No, investors will not have to contribute further capital. All costs including bills and fees are funded from the Gross Rent. The risks of most large unexpected costs (such as flood or fire) are mitigated through property insurance.
Certain other costs, such as roof maintenance, are also forecasted and communicated via our website to investors at the point of investment. To deal with this we either (i) raise a work provision during initial crowdfunding or (ii) set aside a certain amount of Gross Rent.
If an unexpected and uninsured cost greater than Gross Rent is incurred, Bricksave reserves the right to take out a loan secured against the property to pay the expense. That loan will then be repaid from Gross Rent and investors’ returns will be impacted accordingly. This situation would be communicated clearly and fairly to all existing and prospective investors.
Capital appreciation or depreciation is realized when you exit your investment. There are two principle ways to exit:
1) Offer your investment for sale privately. If you wish to exit your investment then we would ask you to contact Bricksave directly, although we do not guarantee to find a buyer or facilitate your exit from the investment, until the Bricksave secondary market is live, we will try to assist you in this.
The standard investment exit is;
2) Exit after four years at market value
On each fourth anniversary of the completion of the transaction on the platform, Bricksave will put the property on the market for sale under the following conditions:
(i) The property is inspected and valued by an independent Chartered Surveyor with reference to factors such as recent transactions and the condition of the property, adjusted for any potential liabilities that the LLC may have, such as taxation.
(ii) Once the property sale has completed investors will receive the dividend relevant to their share in the property.
Bricksave will administer this process and is obliged to act in the interests of investors to maximise financial return. On successful completion of the sale, all Investors in that property will be exited and net proceeds will be distributed to investors. Note that third party costs, such as legal fees, will reduce the proceeds available for distribution to investors, but Bricksave will not charge any fees or make any profit margin on the third party fees.
It should be noted that this process will take as long as required and typically the sales process is between 3-4 months. However, there is no guarantee of this as the sale could take longer.
We have put together a world-class, experienced team with a wealth of knowledge and experience in real estate, finance, digital technology and start-up sectors.
Tom has 8 years of experience in business development with a focus on real estate & technology firms, including rolling out an international property portal in Latin America and commercial property portal in the United Kingdom. He is Co-Founder of 2 start-ups.
Sofia has over 15 years' experience with internet start-ups, online marketing research and the real estate market. She is Co-Founder of Dinero Mail, the largest online payment platform in Latin America.
Marie has 12 years' of international finance experience in multinationals in London, Paris, Sydney and Buenos Aires. Marie has spent the last 3 years working with successful start-ups and digital technology companies.
Stephanie is a marketing connoisseur with over 16 years’ experience working with blue chip corporations in the telecoms (British Telecom) and entertainment (Warner Bros) industries. 10 of these years were spent working with successful start-ups (Skype) in the areas of digital, real-estate Fintech and e-commerce.
Jorge was formerly Head of Sales at LATAM's largest offshore investment sales company as well as a fully qualified IFA and experienced sales professional. Throughout his career, Jorge worked as an IFA helping his clients to reach their financial objectives through a mixture of market analysis and research.
Africa has extensive experience in administration, accounting and customer relations in the past. She worked for a number of law firms, real estate companies and charities worldwide.
Crowdfunding is a system in which people collectively network and pool their funds in an effort to raise money for a project or organisation, usually via the internet. The idea behind Crowdfunding is simple: like-minded people can group together small amounts of money enabling them to invest into larger, previously unattainable projects, and when they do, large sums of money can be raised quickly.
Real Estate Crowdfunding allows money to be collectively raised from many investors and used to fund the purchase/construction of a property. Each investor owns a percentage of the property in proportion to their initial investment. The benefits are clear to both the real estate market and investors. Capital for projects can be raised quickly and investors can get access to the real estate market with small amounts of money.
Bricksave allows investors to collectively buy the property on a buy-to-let basis (with Bricksave doing all the legwork and legal organisation), and then collect a proportional share of the rental income, as well as a share of the capital gains once the property is sold after four years.
Deep Focus - we leverage our extensive network in the global real estate market to locate the best properties for investment with a focus on achieving the highest yield returns at the lowest possible risk for our crowdfunding investors.
Due Diligence - utilising our management team’s expertise, Bricksave completes a thorough audit of the property and physically visits the location to evaluate the market value, location, quality, etc.
Ongoing Management - all administration in regards to fees, recurring insurance, maintenance, etc. are taken care of by Bricksave, allowing investors a hassle-free, great value investment.