Offering Summary

Site: 1600 S 1st St, Austin, TX 78704

  • Preferred Return – 10% per year
  • Up to 2,400 Class A units at $5,000 per unit
  • Minimum 10 units ($50,000) per investor
  • 5% Preferred Returns are paid quarterly and remaining 5% is accrued till end of the project

Distributions Waterfall of Net Available Cash Flow from 1600 Condo Closings

1600 South First, LP Net Available Cash Flow will be distributed in the following order:

  1. 2/3 to 1600 South First, LP Class A limited partners and 1/3 to PSW Real Estate, LLC.
  2. 1600, LP Class A distributions will include return of capital and all accrued unpaid preferred return associated with the returned capital.
  3. PSW Real Estate, LLC repayment will not include a preferred return just return of capital.

- closed to new subscriptions -

KEY ASSUMPTIONS
Land Acres: 1.437
Number of Homes: 59
Average Price / Unit: $596,594
Sales Velocity: 2.1 / mo

Sales + Construction Updates

Updated: 14 April 2021 | 11:00am CST

SUMMARYUnsoldSoldClosedTotal
Condos384859
Revenue - Condos$2,300,000$5,811,440$28,394,075$36,505,515
Revenue - Commercial$-2 Suites Leased$-$23,300,000
FORECASTApr '21May '21Jun '21
Closings821
Revenue$5,811,440$1,455,000$845,000

Sales

  • Only 3 units remain of 59 total
  • 21 units sold YTD in 2021
  • Recorded highest price per sq at $750+ for StoryBuilt
  • Expect full sell and close out by end of Q2 2021

View Community

Construction

Check here for updates.