Nycrec: Own interest in New York city real estate
We use blockchain technology to tokenize real estate in new York city to offer token holders interest in the real estate portfolio
CHAIRMAN OF THE BOARD
For over 21 years, Mr. Kwon has managed $15 billion in real estate in multiple countries across hundreds of transactions. Mr. Kwon has lead multiple firms in their real estate investment efforts in equity, debt, and structured products. He specializes in opportunistic and special situation investments, primarily real estate equity and debt. Mr. Kwon spent seven years at Apollo Global Management where he managed $2.3 billion in real estate investments and was one of six founding members of the Real Estate Private Equity Fund. During Mr. Kwon’s tenure, Apollo launched a commercial mortgage REIT traded on the New York Stock Exchange, the US Real Estate Private Equity Fund. He also managed a variety of credit-related real estate investments including lending and CMBS investing, first mortgages, B-notes, mezzanine debt, preferred equity, and equity. Prior to Apollo, Mr. Kwon was Portfolio Manager at J.P. Morgan Asset Management, where he managed the $6.5 billion Mortgage Private Placement Fund that oversaw debt-related investments and was a member of the Investment Committee in the U.S. Fixed Income Group. Prior to J.P. Morgan, Mr. Kwon worked for the New York office of Nippon Life Insurance of Japan, where he oversaw a large office, retail and industrial portfolio of properties as well as debt-related investments. Mr. Kwon started his financial services career at Morgan Stanley, where he was responsible for the securitization and syndication of commercial mortgages for investment banking clients and the securitization group. Mr. Kwon began his career at Battle Fowler, LLP, in 1996, which later merged into Paul, Hastings, Janofsky and Walker. Mr. Kwon holds a BA in political science and economics from the State University of New York Stony Brook, where he was an intercollegiate tennis and squash player. Mr. Kwon earned a JD from the Jacob D. Fuchsberg Law Center. He has taught Continuing Education at the Baruch College Steven L. Newman Real Estate Institute.
Mr. Wyman has over 30 years of experience in research and investment management. Prior to joining NYCREC, Mr. Wyman was a Partner, Portfolio Manager, and Chief Risk Officer at Seaport Investment Management, a multi-asset fund investing in fixed income securities, equities, derivatives, and commodities. He has also served as an advisor to ICOs such as BankEx. Prior experience includes Partner, Chief Risk Officer, and Head of Research at City on a Hill Capital, Partner and Chief Risk Officer at Arx Investment Management, and Head of Global Credit Research at Pacific Investment Management Co (PIMCO). As part of his responsibilities, Mr. Wyman served as Chairman of PIMCO’s Counterparty Risk Committee. Previously, Mr. Wyman worked as a Senior Credit Research Analyst in Morgan Stanley’s Global High Yield department, where he placed second as the high yield analyst for the energy sector in Institutional Investor’s Annual All-American Fixed Income Research Team. Prior to Morgan Stanley, Charles spent 10 years at Lehman Brothers in mergers and acquisitions, corporate finance, and equity capital markets, and as an equity analyst. Mr. Wyman holds a Bachelor’s Degree magna cum laude from Harvard University and an MBA with distinction from Harvard Business School. He holds Series 7, 24, 86, and 87 Registrations.
Mr. Oberrotman has over 25 years of experience in senior management positions in corporate, consulting, venture capital, and private equity firms. He has served on the Board of Directors for 15 firms ranging in size from start-up to over $1 billion in sales, both public and private companies including appointment in a proxy fight. Previous positions held include World Wide Controller, McKinsey & Co. and Operating Principal at Hambro International Equity Partners and Odyssey Partners, where he was responsible for due diligence, managing exit transactions, and restructuring of portfolio companies. Mr. Oberrotman is a member of the Board of Advisors for the New York Tech Alliance and has served as a Director & President of the NYC chapter of Financial Executives International and as an adjunct professor at NYU’s Graduate School of Business. Mr. Oberrotman received a B.S cum laude from the University of Illinois and an MBA from the University of Chicago.
Mr. Cohen has over 28 years of experience in financial services, research, and investment management. He has served as an advisor on cryptocurrencies and blockchain technology for several private funds. Prior experience includes Partner and Head of Global Financial Services Sector at Knott Partners, Senior Vice President and Portfolio Manager in the GMI/Strategic Investment Group at Merrill Lynch, Senior Analyst at Maverick Capital, and Portfolio Manager/Senior Analyst at Omega Advisors. Mr. Cohen has an undergraduate degree from Boston University in accounting and finance.
Mr. Wasserman has over 25 years of experience in financial advisory and investment management in addition to over 20 years of experience as the executive officer of companies he founded or acquired. He has also served as advisor to ICOs such as BankEx, XTRD, and PetroChain. Prior to joining NYCREC, Mr. Wasserman was the Founding Partner and Chief Executive Officer of Seaport Investment Management, a multi-asset fund investing in fixed income securities, equities, derivatives, and commodities. Mr. Wasserman is a Senior Advisor to a NY-based hedge fund with over $4 billion of assets under management. He is also the current Chair of the Deal Network of the Young President’s Organization (YPO). Prior experience includes Managing Director at Gentry Securities (formerly known as Beige Group), Managing Director and Co-Founder of the Global Capital Markets Group at Rodman & Company, Chief Executive Officer of Alpha Security Group, Managing Partner of AMT Ventures LLC, and Managing Partner at Cardinal Fund. Mr. Wasserman has been a practicing attorney and remains an active member of the NY Bar. He has served as general counsel or financial advisor to Motorola, Meineke, and Sandia National Labs. Mr. Wasserman holds a JD and BBA from Georgetown University.
Mr. Ohannesian is the Chief Financial Officer of Lottery.com (formerly AutoLotto), the first-ever safe, secure, and fun mobile lottery service. Lottery.com seeks to revolutionize the lottery industry and has raised $64 million to date. As part of the senior leadership team, Mr. Ohannesian has been instrumental in the financial leadership position, and oversees accounting, tax, private equity relations and other corporate matters. With over 15 years of experience in financial services, corporate finance and management consulting, Mr. Ohannesian has enjoyed an accomplished careers in strategy and finance. He has helped multiple mid-market enterprises determine their financial, operational, and market viability as financial analysts, treasurer, or CFO. Mr. Ohannesian has had particular exposure to distressed and restructuring businesses as well as M&A in venture capital and private equity. Mr. Ohannesian received his B.A. in Legal Studies from the University of California, Berkeley, and his MBA from Pepperdine University’s Graziadio School of Business & Management.
Mr. Gulko is the Founder and CTO of XTRD.io. He has spent much of his professional life introducing and establishing mature financial trading technologies to the cryptocurrency markets. An accomplished project manager, Serg has over 16 years’ experience in software development, business analytics and coding. Prior to founding XTRD, Mr. Gulko sharpened his software architecture skillset for over 10 years at AxonSoftware, an IT company providing services to financial institutions. Here he advanced from developer to project manager, supporting the successful design, build and maintenance of trading applications. He worked extensively in FIX and other proprietary protocols and developed and led a team of highly skilled developers. Mr. Gulko is an expert in FIX, Perl, Java, PostgreSQL, Agile and various other databases and tools. He received a Master of Faculty of Air and Space Systems from the National Technical University of Ukraine. He is an Official Member of Forbes New York Business Council. His four- part article on ISaGRAF and other articles have been published in PiCAD.
SENIOR BUSINESS ADVISOR
Mr. Seelig is the Executive Director of BABB.io. Helping lead BABB from vision and concept to product delivery and success, Mr. Seelig has done the same at various firms throughout his career, including IBMS Group Limited, where he helped develop alternative energy and environmental projects. Prior to leading BABB, Mr. Seelig spent 20 years in the banking and technology sectors, helping lead both private and public companies. Mr. Seelig recently retired from his role as chairman of APC Technology Group PLC and Board Member of Defenx PLC, a security software company listed on the AIM London stock market. Mr. Seelig is a Member of the Board for the International Anti-Poaching Foundation.
- Crowdsale (60%)
- Reserve (30%)
- Treasury (5%)
- Team/founders (5%)
- Acquisition of property (90%)
- Administrative / Operational / Legal (10%)
Cost of the token1 token for 0.2 $
Price without discounts
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Why was NYCREC founded?
We saw an opportunity to democratize the New York real estate market, giving fractional interest to international token holders. This will, in turn, allow us to grow our real estate portfolio and procure exciting new assets.
Where can I purchase NYCREC?
NYCREC tokens will only be available during our presale and public sale periods. At some later date, they may also become available through secondary markets, like cryptocurrency exchanges.
What is the cost of NYCREC?
NYCREC tokens are priced at $0.20 USD per token and can be purchased with ETH. To find out the approximate USD or other fiat pair value of ETH right now, click here.
Is there a bonus structure?
Days 1–15 = 30% = ~$0.14
Days 16–30 = 25% = ~$0.15
Days 31–45 = 20% = ~$0.16
Once the Presale is over we will go directly into the Public Sale.
Public Sale Period
Days 1–11 = 15% = ~$0.17
Days 12–23 = 10% = ~$0.18
Days 24–35 = 5% = ~$0.19
Days 36–45 = 0% = ~$0.20
*Because the tokens will be sold for Ethereum, this is an estimated price
When is the private sale, prep-sale. and public sale?
The NYCREC website officially launched ion August 24, 2018.
The Private Sale is taking place until October 2018, when the Presale begins.
Once the Presale ends, we will go straight into the Public Sale, which will end in mid-to-late December 2018.
Exact dates are TBD and will be announced via our mailing list, social media channels, blog, and press releases.
Are there any restrictions for participating in the NYCREC pre-sale, or public sale?
The New York City Real Estate Coin pre-sale and public sale are only open to non-US citizens and non-US permanent residents. You do not have to be an institutional or private investor to participate; however, the pre-sale has minimum contribution requirements.
What benefits do NYCREC token holders get?
NYCREC token holders get some of the benefits that come with owning real estate, including an interest in a tangible asset and a share of the cashflow generating efforts via Ethereum airdrops.
Do you have an affiliate program for referrals?
No, we don't. However, we do have a bounty program.
Do you have a bounty program for those who want to earn more tokens?
Yes, we have a bounty program for marketing-related and miscellaneous tasks we need to complete before launch. For updated information, please see the link on our homepage or check our Telegram group.
Why are you liquidating the ETH you raise during the sales?/ Why aren’t you holding the funds in Escrow?
We want to obviate the exchange risk for our investors, so instead of holding all the ETH we receive until the end of the ICO, we reserve the right to liquidate it into fiat in order to preserve the value of the raise.
Why do I need NYCREC? Why can’t I just buy a New York City REIT?
Real estate investment trusts (REITs) are a popular way to get exposure to real estate, but they fall short of tokenized real estate such as NYCREC for several reasons:
1) NYC REITs trade on New York Stock Exchange hours, which are 9:30am to 4pm EST. NYCREC tokens will trade 24/7.
2) REITs are, generally speaking, very narrow in scope. For example, you may have a REIT that focuses primarily on commercial properties, and another that focuses on residential properties. In order to get true diversification, you’ll have to manage the REITs you hold. With NYCREC, you get an actively managed portfolio that is more flexible than a REIT.
3) REITs come with expenses that cannot be avoided. The NYCREC team expects to lower expenses compared to a REIT, which means more pass-through value to the token holder.