NYCE X Capital Raise
$1.25M Raise — Platform Economics
| Line Item | Amount |
|---|
| Gross Capital Raised (NYCE Retail Investors) | $1,250,000 |
| NYCE X Structuring & Origination | ($125,000) |
| Inveniam Tokenization Infrastructure | ($125,000) |
| Net Capital Deployed to Acquisition | $1,000,000 |
Acquisition Capital Stack
$3M Acquisition at 55% Below Appraised Value
| Source | Amount |
|---|
| NYCE Retail Raise (Equity) | $1,000,000 |
| Debt Financing | $2,000,000 |
| Total Acquisition Capital | $3,000,000 |
| |
| $1M Developer Fees Waived at Close — additional cushion | |
| Asset Valuation | Value |
|---|
| Acquisition Price | $3,000,000 |
| Appraised Value (As-Is) | $6,700,000 |
| Day-One Equity Capture | $3,700,000 |
| Discount to Appraised Value | 55% |
Stabilized Scenario
Phases 1 + 2 + 3 — 105 Suites Completed
Construction completion and stabilization target: 36 months. Lynd Group (50/50 JV, signed LOI) funds and manages construction. Recapitalization or sale at stabilization.
| Phase | Revenue |
|---|
| Gross Revenue (Stabilized Annual) |
| Phase 1 — 17 suites (built, cash-flowing) | $168,000 |
| Phase 2 — 32 doors (NNN master lease @ $1,500/door) | $576,000 |
| Phase 3 — 56 suites + commercial (est.) | $840,000 |
| Total Stabilized Gross Revenue | $1,584,000 |
| Net Operating Income |
| Phase 1 NOI (60% margin) | $101,000 |
| Phase 2 NOI (95% margin — NNN lease) | $547,000 |
| Phase 3 NOI (60% margin) | $504,000 |
| Total Stabilized NOI | $1,152,000 |
| Blended margin: 73% (NNN on Phase 2 lifts efficiency) | |
| Stabilized Valuation | Value |
|---|
| At 6.5% Cap Rate | $17,700,000 |
| At 6.0% Cap Rate | $19,200,000 |
| Stabilized Value Range | $17.7M – $19.2M |
Investor Returns
Waterfall — 8% Pref / 70-30 Carry
NYCE retail investors receive an 8% preferred return. Profits above the pref are split 70% to investors, 30% to sponsors (NYCE X + Lynd via 50/50 JV).
| Line Item | Amount |
|---|
| Total Capitalization |
| NYCE Retail Equity | $1,000,000 |
| Acquisition Bridge | $2,000,000 |
| Lynd Construction Capital (JV) | $7,500,000 |
| Total Capital In | $10,500,000 |
| Financing Costs (36-Month Hold) |
| Acquisition Bridge Interest (8%, 36 mo.) | $480,000 |
| Construction Financing Interest (9%, 36 mo.) | $2,000,000 |
| Total Financing Costs | $2,480,000 |
| Exit — Refi/Sale at 36 Months (Conservative 6.5% Cap) |
| Stabilized Value | $17,700,000 |
| Less: Acquisition Bridge Payoff + Interest | ($2,480,000) |
| Less: Construction Financing Payoff + Interest | ($9,500,000) |
| Net Equity to Distribute | $5,720,000 |
| |
| 50% to NYCE X side per JV agreement | |
| NYCE X Side Equity | $2,860,000 |
| Waterfall — NYCE X Side |
| Return of Capital (NYCE Retail Investors) | $1,000,000 |
| 8% Preferred Return (Cumulative, 36 months) | $240,000 |
| Subtotal to Investors (Capital + Pref) | $1,240,000 |
| |
| Remaining Profit Above Pref | $1,620,000 |
| 70% to NYCE Retail Investors | $1,134,000 |
| 30% Carry to Sponsors (NYCE X + Lynd) | $486,000 |
| |
| Total to NYCE Retail Investors | $2,374,000 |
| Total to Sponsors (Carry) | $486,000 |
Investor Return at $100
$237
2.37x multiple · 36-month hold
Investor IRR
33%
Conservative · 6.5% cap · 8% bridge · 9% construction
Platform Fee
$250K
Structuring & tokenization fee
Sponsor Carry
$486K
30% above 8% pref · split via 50/50 JV
Platform Architecture
NYCE vs. NYCE X — Roles
| Entity | Role |
|---|
| NYCE X | Sponsor · Underwriter · Structuring |
| Sources deal, structures securities, manages raise, collects underwriting fee and carry | |
| |
| NYCE | Retail Distribution · Investor Base |
| 2.5M+ members invest via tokenized securities at $100 minimum | |
| |
| Lynd Group | JV Partner · Construction Manager |
| 50/50 JV · Funds construction · $2.9B track record · 23K+ units | |
◆ Secondary Liquidity
NYCE retail investors who want to exit before the 36-month refi/sale event can sell their tokenized position on the NYCE secondary market — backed by the same 2.5M+ member network that filled the primary raise. Traditional private RE investors have zero exit options before the fund lifecycle ends. NYCE token holders have a live marketplace of retail traders from day one.
De-Risk Factors
Phase 1: Built and cash-flowing ($168K/yr gross revenue)
Phase 2: 55% complete · executed NNN master lease ($576K/yr guaranteed)
Phase 3: Fully entitled · PA State Senator letter of support on file
JV Partner: Lynd Group — $2.9B acquisitions, 23,000+ units, signed LOI
Sponsor: $4.2M personally guaranteed in the project
$1M dev fees waived at close — additional cushion to the capital stack
Location: Directly across from Temple University football training facility, within Temple's official Patrol Boundary
The Bottom Line
NYCE X underwrites and structures the deal, collecting a $250K platform fee. NYCE retail investors fill the $1.25M raise at $100 minimum, deploying $1M to acquire a 105-suite student housing portfolio at 55% below appraised value. Lynd Group funds construction completion via a 50/50 JV. After 8% bridge and 9% construction financing, the conservative scenario returns 2.37x to investors ($237 on every $100) at a 33% IRR over 36 months, after an 8% pref and 70/30 carry split. NYCE's secondary market provides token holders with liquidity optionality unavailable in traditional private real estate.