NYCREC uses blockchain technology to tokenize New York City real estate in order to offer token hold...
About
NYCREC’s business plan positions it to be an ICO disrupter: NYCREC will offer token holders the opportunity to have fractional ownership of New York City real estate NYCREC tokens are expected to be the first in a series of tokens that will offer real estate ownership in major cities globally and may also expand to include different asset classes and investment strategies. As this ecosystem expands our goal is to evolve the platform into a scalable, efficient, governance-focused, and decentralized blockchain that hosts any asset-backed tokens, which can then become a collateralized medium of exchange.
Periodic dividends may be distributed to token holders in the form of Ethereum airdrops as a percent of profits that may be generated from any or all of earnings, occupancy, acquisitions, and dispositions. The NYCREC team is comprised of a group of seasoned professionals who have extensive realworld experience in the commercial real estate and financial markets. NYCREC will have an Investment Committee responsible for making decisions relating to the acquisition, investment, asset management and disposition of properties. The NYCREC team was organized to continue the historically successful real estate-related investment activities of team members, targeting a broad range of real estate-related assets, portfolios, and companies. NYCREC’s strategy includes sourcing opportunistic investments through its proprietary network of owners, agents, financial, accounting, and legal professionals. These include generally inaccessible bilateral deals and off-market transactions. These types of investments are typically special situations requiring significant experience in structuring both the debt and the equity in the capital structure. NYCREC will consider a broad spectrum of assets and properties including but not limited to ground leases, multi-family apartments, commercial office properties, industrial and warehouse distribution facilities, and new development. Token holders of NYCREC will have the opportunity to participate in a cryptocurrency backed by tangible assets, where the interests of the management team are aligned with the interests of token holders. NYCREC will be managed by a professional team with more than 30 years average experience, will provide periodic financial and operational reports for transparency of information, and in addition may also generate periodic airdrop dividends.
James Murphy, founder and chairman of Murphy & McGonigle, said he wouldn’t settle any crypto case with the current SEC before seeing how the election turns out.
