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WHY IS THIS DEAL BETTER THAN OTHERS

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WHY IS THIS DEAL BETTER THAN OTHERS – PowerPoint PPT presentation

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Title: WHY IS THIS DEAL BETTER THAN OTHERS


1
HARLEM ISLAMIC CULTURAL CENTER
2
The Property
Located in Harlem between Park Avenue and
Lexington Avenue, 180 East 128th Street consists
of a two-story building with two units inside.
The building measures approximately 6,264 square
feet and is zoned M1-2 with a FAR of 1.04. M1-2
zoning allows for houses of worship as-of-right.
The property currently belongs to Northeast
Holding Inc.
Dimensions
Zoning M1-2
3
FUNDRAISING NEEDS
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
4
FUNDRAISING FACTS
  • We have raised over 300,000.
  • We need to raise another 300,000 to purchase
    the property
  • We need to raise another 200,000 in order to
    start
  • construction immediately upon closing.
  • The financing is Sharia-compliant at a fixed
    monthly payment
  • of 8,432
  • The remaining amount shall be paid over the
    next ten years.
  • The property has a retail space on the ground
    floor which will
  • generate an income for the mosque at a rate
    of 3,500 per

Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
5
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
6
(No Transcript)
7
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8
ACTUAL DEAL
PURCHASE PRICE The purchase Price for the
Property is one Million Eight Hundred
Seventy-Five Thousand Seven Hundred Fifty
(1,875, 750) Dollars, which shall be paid by
Purchaser to Seller, as follows
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
9
  • Fifty Thousand (50,000) The Deposit on the
    signing of this agreement.
  • Five Hundred Twenty-Five Thousand Seven Hundred
    Fifty (525,750) on the Closing date.
  • One Million Three Hundred Thousand (1,300,000)
    Dollars shall be paid to Seller by execution and
    delivery of a note secured by a purchase money
    mortgage drawn by seller.

Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
10
  • TOTAL PAYMENTS AFTER 10 YEARS AT 6.75
    1,134,794
  • There is actually no interest. This amount
    reflects the original purchase price.

Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
11
The Photos
108 EAST 128TH STREET SIDE VIEW
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
12
FRONT VIEW
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
13
BACK VIEW
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
14
HARLEM ISLAMIC CENTER OF NEW YORK
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
Artist rendering of the new Mosque
15
Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
16
THE HIGHLIGHTS
  • Mosque Cultural Center
  • The Mosques in Harlem
  • The Mosques in Harlem, like most Mosques
    around the city,
  • are overflowing with worshippers,
    especially for Friday
  • prayers.
  • Our intention is to establish a Mosque,
    school and
  • Community Center in East Harlem where all
    Muslims and
  • non-Muslims can congregate to pray, learn
    about Islam and
  • grow on the straight path of Allahs
    Blessings.
  • The Harlem Islamic Cultural Center will be an
    institution
  • where all Muslims can congregate, learn,
    teach and grow.
  • The Property
  • Valued at about 1.9M, the 6,000 square feet
    building is
  • located between Park and Lexington Avenues
    in Harlem,
  • New York City.

Fi SabeelAllah, kindly send your donations
(which are tax deductible) to the following
address TIC of New York c/o SOHO Properties 552
Broadway, Suite 6N New York, New York 10012 Our
tax ID number is 13-4150532
17
THE COMMUNITY CENTER
  • The vision is to create a Community Center venue
    for worship,
  • teaching, dialogue, exchange and raising
    awareness, as well as
  • culture, education and social support for the
    Northern
  • Manhattan public.
  • Objectives for the Center include
  • School for Islamic Education and Dawah
    (Teaching Quran)
  • Classes for Fiqh (Islamic jurisprudence) and
    Hadith (traditions of the Prophet, Peace and
    Blessing Upon Him)
  • Adult Education Classes
  • Family Services family and marriage counseling,
    conflict resolution and guidance on child care
  • Career Job Counseling
  • Addiction Counseling Islamic guidance to help
    those suffering with alcoholism, drug abuse,
    gambling and other addictions
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