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.
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.
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.
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
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.
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.
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.
No, we don't. However, we do have a bounty program.
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.
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.
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.