CityFunders launches NYC’s first, dedicated crowdfunding platform



New York City’s first crowdfunding real estate investment marketplace has launched. Called CityFunders, the privately-funded firm is co-founded by David Behin, Jerry Swartz, Ayush Kapahi and Albert Behin.

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Crowdfunding is an increasingly popular concept in almost every industry these days, with renowned platforms like Kickstarter and Indiegogo launching hundreds of new projects every day. But with the launch of CityFunders, New York gets it’s own, real estate-specific crowdfunding site for the first time.

CityFunders allows investors to take part in a wide range of multi-million dollar debt and equity deals, encompassing residential, commercial, industrial and hospitality properties located in the NYC area. Some of the current projects listed include the Development of a Luxury Mixed-Use Building in Queens, and a Mixed-Use Respositioning project in Chinatown.

“CityFunders fundamentally changes the way investors can participate in the nation’s, if not the world’s most vibrant, and profitable real estate market,” said David Behin, CEO and co-founder of CityFunders.  “Our platform streamlines investing in New York City real estate deals—the most complex in the United States—and shatters the barriers to entry for the retail investor.”

CityFunders believes that many investors are looking for new ways to diversify their investment portfolios and maximize returns. As a result, CityFunder’s platform ensures that investors have access to all the information they need to understand the opportunities and risks.

“The CityFunders team selects some of New York City’s most promising debt and equity deals for potential investors [the crowd].  We put each and every deal through a rigorous underwriting process with a relentless focus on accuracy, viability, and profitability,” says Kapahi, who is responsible for deal generation.

CityFunders employs a committee of real estate developers and investors to vet each project before it’s posted on the site. Once approved, CityFunder commits funds to the project sponsors from a secured $40MM credit facility, ensuring a lightning-fast close.

“Funding of NYC’s real estate deals is an extremely competitive business – especially for the good deals.  For any funding entity, whether crowdfunding or traditional sources of capital, commitment to the deal is key.  Without that, Sponsors of good deals will never work with you, reducing the platform to mediocre deals that couldn’t get funded elsewhere,” said Behin.

About Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

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