Question 1

Why haven’t I seen a return on my initial investment in NYCE? Also, I do not see anything in the NYCE app.

Accepted Answer

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.

Question 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...

Accepted Answer

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.

Question 3

Have any distributions been made to investors of the Temple 1 project?

Accepted Answer

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...

Question 4

How is your valuation cap 2M with a 1.5M goal? How will you maintain control of the company?

Accepted Answer

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...

Question 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?

Accepted Answer

We will ensure all investors receive the opportunity zone benefits privately, yes. And will close before December 31st, yes.

NYCE’s TEMPLE II

Own Temple U student housing complex for $100

Never miss an update

Updates

NYCE's TEMPLE II

Quick facts

Team profiles

Featured investor profiles

Never miss an update

Updates