# NYCE's TEMPLE II

Own Temple U student housing complex for $100

## Elevator pitch
Dubbed the “Robinhood of real estate,” we’re on a mission to create 100,000 millionaires of color and 100M first-time investors worldwide through financial literacy and ownership of our $260M+ real estate portfolio (as well as publicly-traded real estate and index funds).

- Canonical URL: https://wefunder.com/temple2
- Entity ID: wefunder:company:102744
- Last updated: 2026-06-22T02:02:38Z
- Generated at: 2026-06-22T02:50:44Z

## Quick facts
- 📲 88 smart-tech coliving units by Temple University
- 💰 Projected $15M project value once built
- 📺 Seen in Forbes, Business Insider, CNBC, TechCrunch and more
- 💰 NYCE properties are up 105.5% YTD
- 📈 Acquired 1500+ apartments during COVID ($263M+ total portfolio)
- 💥 Ongoing partnership with Temple University to insure tenant inflow
- 🦄 NYCE’s third $1M+ real estate offering (record)
- 📊 Part of $500M+ NYCE development pipeline

## Active fundraises
- wefunder:fundraise:54747: 4(a)(6) successful (USD)
- wefunder:fundraise:54748: 4(a)(6) successful (USD)

## Story
TEMPLE II is Phase II & III of the 105-bed tech-powered student housing development “Philicon Square,” directly across Temple University’s football training field and two blocks from campus.Powered by a formal partnership between NYCE and Temple University, this development TEMPLE II includes a total of 88 co-living units/bedrooms. Tenants will lease individual bedrooms within the apartments.The $79 Story…Back in July of 2014, I arrived in NYC with no SSN, credit, bank account or any network. Just $79 in my PayPal account, making “ends meet” ($500 every three weeks) as a radio host and writer.Without boring you with trivial boo-hoo details, fast forward to April 2016, I did my first deal, it quickly appraised north of $1 million shortly after and things went from there.As of today, we’ve helped 5000+ first-time investors of color own a piece of prime real estate. Because of how I started, we thought it would be fitting to bring it all full circle and help others kickstart their wealth-building journey the same way I did mine.PressOK, back to the property...The first smart-home powered building by Temple University, Forbes called it “the Millennial’s wet dream.” Why, we’re not sure. We do know this, however: We’ve specifically designed and built it for the end user in mind.Here are some images from TEMPLE I: The Tech MansionAs part of the partnership with Temple University, Philicon Squareare part of NYCE’s initiative to:Create a Silicon Valley-style neighborhood for the creative community around campusDeliver a living environment conducive to creativity, entrepreneurship and job creationProvide a pathway for people of color to own a part of the gentrificationPROGRESS: The property was acquired by NYCE in 2021. Construction began in the fall of 2021 with the demolition of the existing structure. TEMPLE II is expected to be completed in the 4th quarter of 2022The Offering: TEMPLE II, ExplainedBy offering ownership during the construction period, we allow investors the opportunity to take part in the forced appreciation of the asset as construction progresses.By offering ownership during the construction period, we allow investors the opportunity to take part in the value upside as construction progresses. Or, in layman’s terms, the further along you get, the more valuable the project becomes.Partnering with Temple University’s entrepreneurship institute, we’re actively building a “Silicon Valley” mini-neighborhood for student entrepreneurs and creators.Investment TimelineTEMPLE I accepted investments during construction at a $1M pre-completion valuation. Three months later after construction was completed, the property appraised at $2,055,000.Just like we did with TEMPLE I, NYCE has assumed the entitlement risk upfront; we’re allowing investors to come in during the construction period—after acquisition and soft costs—thus deferring risk while still allowing a piece of the upside.Here’s a timeline on the project.The Location2201-2209 N. 11th Street, Philadelphia, PA (TEMPLE II) & 1023-1027 W. Susquehanna St., Philadelphia, PA (Phase 3) Philicon Square is located right by Temple University’s campus, only two blocks from the classroom. In fact, directly from your window, you’ll get a sneak peak of Temple’s football team.Campus offers an urban experience with many parks, bars, restaurants and coffee shops—all in the shadow of Temple University and just one mile from Fishtown, the “hottest neighborhood in America,” per Forbes.A five-minute walk to class, students living at TEMPLE I enjoy easy access to Temple University and with the Temple U train station just two blocks away, downtown Philadelphia is less than a 10 minutes away.Outside of campus life, the property is three blocks from the train that takes you directly to 30th Street Station, Philadelphia’s main transportation hub and Amtrak’s third-busiest station behind Union Station in DC and Penn Station in New York.Booming Student-Housing MarketTemple University is one of the hottest real estate markets in the country. Sitting in a historic, gentrifying North Philadelphia neighborhood, Temple University has set application and enrollment records every year since 2013—creating insane demand for quality student housing products.More than 88% of Temple students live off campus and occupancy in North Central Philadelphia was over 95% with the vast majority living in old townhouses. TEMPLE II: Financial Projections Upon completion, we intend to operate it as a student-housing co-living property where students rent individual bedrooms. The chart below provides our estimates for operating the property.NOTE: Our rental assumptions are based on the Jan. 2022 TEMPLE I rent roll.This graph contains forward-looking projections that cannot be guaranteed.The Offering: Investor ReturnsWe are offering equity interests in the TEMPLE II development project. Investors will receive an 8% preferred return. In addition to having a piece of the project, investors will be able to track their investment in our NYCE app.We are estimating that investors will receive a 12%-15% annualized IRR with a 36-month lock-up period. Investors will receive a return upon a sale or refinancing of the property, anticipated inside 36 months.The following chart outlines the estimated returns based on a $1,000 investment at the 15% preferred return rate. NOTE: These are for illustrative purposes only and not a guarantee.Investor Returns: How Investors Make MoneyWe are estimating that investors will receive a 12%-15% annualized IRR with a 36-month lock-up period. Investors will receive a return upon a sale or refinancing of the property, anticipated inside 36 months.The following chart outlines the estimated returns based on a $1,000 investment at the 15% preferred return rate. NOTE: These are for illustrative purposes only and not a guarantee.In addition, we may offer options for investors to buy/sell their positions in TEMPLE II (or other NYCE properties, subject to availability), offering liquidity. We’re currently in the process of taking TEMPLE I public on LEX, the Nasdaq-powered real estate trading platform.Our Mission…Millennials of color—women in particular—have been dealt one of the worst hands in recent history, inheriting a wealth gap that will take 228 years to close. The main driver behind this wealth inequality is the fact that black and Hispanic communities don’t own real estate at the same rate.We want to help ERASE this troubling trend. According to Duke University, real estate/home ownership would narrow the racial wealth gap by 31%. So this is why we launched a mission to help marginalized groups become first-time investors.Since April of 2020, over 5000 first-time investors have invested over $2.5M in our real estate portfolio—and we’ve grown our portfolio by 105%. Our goal is to bring on over 100,000 Millennial moguls to co-own the real estate with us and collectively build generational wealth.

## FAQ
1. **Why haven’t I seen a return on my initial investment in NYCE? Also, I do not see anything in the NYCE app.**
   - Hi Sharmaine, If you have signed up for the NYCE app using the same email address as your WeFunder account, then look for the “Sync” button on the dashboard. Once you successfully sync your investment, your portfolio details will populate. If that doesn’t work, shoot an email to app@nycegroup.co.
2. **I see that this is an opportunity zone investment; given that this is an offering for future equity, will the opportunity zone reinvestment date be the day that the SAFE converts into equity? I'm assuming that it won't convert into equity prior to the December 31st opportunity...**
   - Hey Lucas—it’s not a SAFE, it is straight equity. We did our first offering as a SAFE, converted all into shareholders. Not something we’re doing here. Straight equity.
3. **Have any distributions been made to investors of the Temple 1 project?**
   - Hey Jordan, No and that's by design and according to plan. For one, The TEMPLE I project just had its 1-year anniversary, which is the EARLIEST you can sell a Reg. CF security. (And it's a 36-month hold.) Secondly, we're listing our Philicon Square properties (TEMPLE I and TEMPLE II) as an IPO in Q1 where investors not only can liquidate their Reg CF positions in record time, they can trade in and out freely—at twice the valuation of the investment. I felt that was the best utilization of cap...
4. **How is your valuation cap 2M with a 1.5M goal? How will you maintain control of the company?**
   - Good question, Josh! In short, it’s a property investment vs a traditional startup investment where giving up a lot equity = giving up control. In this case, I control the property because I'm the GP (general partner). It's a standard property investment structure. To date, I've carved out a minority stake for micro-investors, which I prefer. This time I wanted to offer more room because — quite frankly — we run out of inventory too fast and people are reduced to waitlists. I want more people...
5. **Thanks - will there be some sort of rolling close prior to December 31st of this year, and will you all provide investors with Temple III's EIN number for opportunity-zone reporting purposes on Form 8997?**
   - We will ensure all investors receive the opportunity zone benefits privately, yes. And will close before December 31st, yes.

## Team
- Philip Michael (CEO, NYCE)
- Dmitriy Ishimbayev (General Counsel)
- Arif Nezami (Head of Finance, NYCE)

## Q&A
- Q: Posting this for fellow investors who may be seeking answers: Has anyone been able to get in touch with Philip Michael or any member of the NYCE team? They appear to have gone silent — no recent updates, their social media accounts are inactive, and the app has not been updated. Additionally, K-1 forms for Temple I and II were not provided during tax season. Wefunder has indicated that we may not receive them until August, which forced many of us to file tax extensions with the IRS. If you’ve experienced similar issues, you may consider filing a complaint with the Securities and Exchange Commission’s Office of Investor Education and Advocacy, as well as the Federal Trade Commission. This helps ensure regulatory review of these practices and can protect other investors. You can file a complaint here: https://help.sec.gov/s/investor-complaint
  - A: Hey A. Silvera 👋 — thanks for reaching out. Here’s how to get what you need quickly: - View your investments → [wefunder.com/portfolio](http://wefunder.com/portfolio) - Trading (Nasdaq Private Market) → [npm.nyce.co](http://npm.nyce.co/) - Orientation sessions → [calendly.com/nyceco/orientation](http://calendly.com/nyceco/orientation) - Premium support ($250) → [calendly.com/nyceco/premium-support](http://calendly.com/nyceco/premium-support) We’re updating all systems to make the process smoother. Thanks for being part of our mission of financial freedom for all.
- Q: Can we get the financials from 2024 and or Q1 of 2025 Thanks, Richard Clement
  - A: Hey Richard 👋 — thanks for reaching out. Here’s how to get what you need quickly: - View your investments → [wefunder.com/portfolio](http://wefunder.com/portfolio) - Trading (Nasdaq Private Market) → [npm.nyce.co](http://npm.nyce.co/) - Orientation sessions → [calendly.com/nyceco/orientation](http://calendly.com/nyceco/orientation) - Premium support ($250) → [calendly.com/nyceco/premium-support](http://calendly.com/nyceco/premium-support) We’re updating all systems to make the process smoother. Thanks for being part of our mission of financial freedom for all.
- Q: I wanted to kindly request an update on the status of the company, as it's been quite some time since we've received any communication. As an investor, it's important to stay informed on the progress and any relevant developments. Additionally, the K-1 forms for Temple I and II have not yet been provided. Wefunder mentioned that we may not receive them until August, which is quite delayed. Your attention to this matter would be greatly appreciated. Looking forward to your response.
  - A: Hey A. Silvera 👋 — thanks for reaching out. Here’s how to get what you need quickly: - View your investments → [wefunder.com/portfolio](http://wefunder.com/portfolio) - Trading (Nasdaq Private Market) → [npm.nyce.co](http://npm.nyce.co/) - Orientation sessions → [calendly.com/nyceco/orientation](http://calendly.com/nyceco/orientation) - Premium support ($250) → [calendly.com/nyceco/premium-support](http://calendly.com/nyceco/premium-support) We’re updating all systems to make the process smoother. Thanks for being part of our mission of financial freedom for all.
- Q: I invested $100 .. how many shares I receive and what's the ROI?
  - A: Hi George, It's all in the disclosures and FAQs. I'd recommend you look through there. We also recorded a video and did a thorough breakdown via Zoom — go catch that replay. Your share of ownership in the project will be $100 divided by the valuation you invested in it. As for returns, you can never make any guarantees (it's actually illegal to do so). That said, it's projected at 12-18% per year. Investors in TEMPLE I invested at a $1M valuation and it appraised at $2M 90 days later. A final point: we put up the bulk of the money upfront and your returns will be the same whether it's $100 or $100,000. Make sure you join the investor calls or if you have any other questions. - Philip
- Q: What's the latest with this project? Looking through the questions asked here, I don't see any responses from after October 24, 2024. In the meantime I've tried all manner of ways to find out what's going on here. No one has responded to any communications that I've made in the NYCE app, which no longer seems functional. I've tried emailing the email addresses listed on the Temple I website, but haven't gotten a response. I've even spoken with the Temple off-campus housing office, who have no knowledge of this project. I wrote a question on the "Temple III" fundraising page (https://wefunder.com/comments/298152) back in December 16, 2024, which didn't get a response until March 15th. Phillip Michael responded saying I should schedule an "investor success check-in meeting", which I did, but no one showed up to the meeting. Follow-up communications were similarly not responded to.
  - A: Hey Billy 👋 — thanks for reaching out. Here’s how to get what you need quickly: - View your investments → [wefunder.com/portfolio](http://wefunder.com/portfolio) - Trading (Nasdaq Private Market) → [npm.nyce.co](http://npm.nyce.co/) - Orientation sessions → [calendly.com/nyceco/orientation] (http://calendly.com/nyceco/orientation) - Premium support ($250) → [calendly.com/nyceco/premium-support](http://calendly.com/nyceco/premium-support) We’re updating all systems to make the process smoother. Thanks for being part of our mission of financial freedom for all.
- Q: Can anyone in this group provide any updates? Other than the bot response.
- Q: Hi Phillip im still very excited to be a investor. In nyce and i know there are quite a few properties indeveloment but i was wondering if the future plans of the company is to. Keep acquiring more properties buy building them or buying existing ones many thanks
  - A: We're going to keep buying, developing and kicking butt. The same as now but expect more. There's another $300M of active properties in our immediate pipeline. You'll hear more this year for sure. No slowing down! For NYCE overall, we’ll continue to offer wealth-building opportunities and services, including banking, education, live stock trading and more. The mission — as always — is to create more wealth for those who haven't had it. That has not, and will not, change.
- Q: Hi Philip. The charts show a 12-15% annual return, but the overview mentions a initial valuation of $2.5m and projected post-construction value of $11m, which averages out to a annual return much higher than 12-15%. Which one is accurate? Thanks!
  - A: Hi Dani, Thank you for your thoughtful question! The 12-15% annual return reflects the expected average returns for investors over the life of the project, based on rental income and property value appreciation. The projected post-construction value of $11M represents the estimated increase in the property’s overall value, but this doesn’t necessarily translate directly to annual returns, as it factors in the full appreciation over the project timeline. Both figures are accurate but serve different purposes—one focuses on annual returns, while the other highlights the long-term potential of the property. If you'd like to discuss this further or need any additional clarification, feel free to schedule a quick call with me here: https://calendly.com/nyceco/investor-success-check-in Thank you again for your support and for being part of the NYCE community! Best regards, NYCE Team
- Q: What are the terms of the construction debit financing? Thanks
  - A: Hi Mark, Thank you for reaching out with your question! The terms of the construction debt financing typically depend on the specifics of the project, including loan-to-value ratios, interest rates, and the construction timeline. While we can't disclose all the details publicly due to confidentiality, I’d be happy to discuss the general terms and answer any questions you may have. Feel free to schedule a quick call with me here, and I’ll provide you with the information you need: https://calendly.com/nyceco/investor-success-check-in Thank you again for your interest and support! Best regards, NYCE Team
- Q: Hey, is there just an automated bot responding here?
- Q: Hello! an update is needed for 2025 without having to go to the https://calendly.com/nyceco/investor-meeting?month=2025-05 Regards
  - A: Hey Richard👋 — thanks for reaching out. Here’s how to get what you need quickly: - View your investments → [wefunder.com/portfolio](http://wefunder.com/portfolio) - Trading (Nasdaq Private Market) → [npm.nyce.co](http://npm.nyce.co/) - Orientation sessions → [calendly.com/nyceco/orientation](http://calendly.com/nyceco/orientation) - Premium support ($250) → [calendly.com/nyceco/premium-support](http://calendly.com/nyceco/premium-support) We’re updating all systems to make the process smoother. Thanks for being part of our mission of financial freedom for all.
- Q: Hello, It's 2025, can we get an update on the construction progress? Has it started?
  - A: Hi Gabriel, Thanks for reaching out! We appreciate your patience and your support as a Temple II investor. We understand the importance of keeping investors informed, and while we don’t have a formal update to share at this time, our team is actively engaged in next steps for the project. We’ll continue to provide updates as soon as key milestones are reached. In the meantime, if you’d like to connect directly regarding your investment, feel free to schedule an Investor Success Check-In here: 📅 Investor Success Check-In: https://calendly.com/nyceco/investor-meeting We appreciate your support and look forward to sharing more as soon as we can. Best regards, The NYCE Team
- Q: Hello, I invested and very happy with my returns. Great job. Although it's not in my short-term plans, but what is process if I decide to divest?
  - A: Hi B.H., Thank you for your kind words and for being a part of the NYCE journey! We’re thrilled to hear that you’re happy with your returns. While it’s great to know divestment isn’t in your short-term plans, I’m happy to provide information on the process if needed. Typically, divestment can involve selling your stake to another investor, as liquidity options depend on the platform and project. If you ever decide to explore this option, we can walk you through the steps to ensure a smooth transition. Feel free to schedule a quick call with me here whenever you’re ready to discuss further: https://calendly.com/nyceco/investor-success-check-in Thank you again for your support, and we’re here to assist you at any time! Best regards, NYCE Team
- Q: NYCE was supposed to place money into my investment account over a year ago and then after not doing that simple task they blocked me from an investment meeting and I had to take them to court. Philip is essentially a clout chaser. He uses his nephews' name and fame to promote this company as their shared venture and they are co-founders, but then when I tried to take him to court, he stated in his deposition that Martin was not a co-founder. So he has been lying to investors this whole time or he lied to the court. Either way the fact that he orchestrated my money being taken and not returned or placed in my investment account adds up to crooked business. This all happened because we had a personal relationship and when he got mad at me for not taking verbal abuse, he set out to separate me from the company. Unfortunately because of his He-motional tantrums I have no way of finding out basic information about my account. Securitize doesn't operate in my area of the country. He turned people at the company against me. How do I know? I write a question and they no one answers. It wasn't like that before Philip decided he wanted to hide what happened between us. I will have more coming so that other investors (mainly the women) will know what to expect from someone like him. He is truly not a good person. Why do you think his family was estranged from him? Read his interviews and get to know him. It will open your eyes. More to come soon
- Q: I recall receiving an email regarding a delayed K-1 for this investment. Am I recalling this correctly and if yes, when is the 2022 K-1 being sent?
  - A: Hi Jon, Thank you for reaching out! Yes, you are correct—there was a delay with the K-1 documents, but the 2022 K-1 is now available. You can find it under the Tax Documents tab on Wefunder. If you have any questions about the document or need further assistance with accessing it, feel free to schedule a quick call with me here: https://calendly.com/nyceco/investor-success-check-in Thank you again for your continued support, and I’m happy to assist with anything you need! Best regards, NYCE Team