Lot/Land 2.39 Acres
Project Type: Construction Financing Demonstration
Max # of Coins - 12,000
Reserve # of Coins - 12,000
Max # of NFTs - 12,000
Reserve # of NFTs - 12,000
Closing Date - 2023
Overview
Sync Estates is proud to present an opportunity to own a portion of a land development project building a single-family home on an undeveloped 2.39-acre lakeshore property. The 5000 + square-foot home will be a modern lakefront steel barndominium with 202 feet of waterfront, 25 foot ceilings, 4 bedrooms, three bathrooms, an office, large dining room, a great room, and a modern kitchen are just some of the features of this secluded lake getaway with an estimated market value exceeding $1,250,000.00 USD.
Project Roadmap
September 2022
15th Start Land Clearing
October 2022
4th - Plans for Septic Done
Building Plans Submitted for Variance to Irondale Township
Project Description
Individuals that choose to participate in this technology demonstration will receive one Lookout Lake Coin (LLC) which will convert to 600 Sync Estates Coins (SEC). The ratio is 1:.05 or 1 LLC = .05 SEC. Additionally, each participant will receive an NFT which represents .00004083% in Lookout Lake Coin Limited Liability Corporation which owns the subject property, and the completed home.
These 12,000 ownership NFTs will represent 49% ownership of the LLC and all assets controlled by it. This collection of NFTs will be repaid on a yearly basis over 30 years at the market value of the home on December 31st (beginning after construction completion).
For this project, $20,000 USD will be offered on December 31st (each year) to the NFT community as a whole at the adjusted market value. For example, one $50 NFT in year one is expected to be worth $51.04 (1.25M * 49% / 12,000). NFT holders will have the ability to sell back to the majority owner at this time but are not required to do so. Lookout Lake NFTs can be sold on the open market (i.e. OpenSea) at any time.