Thomas Lopez-Pierre of Black Real Estate Forum, LLC (w/Con Edison) at 3129 Fenton Avenue, Bronx, NY.

Thomas Lopez-Pierre of Black Real Estate Forum, LLC/ BREF Fund I, LLC with Con Edison (Electric) at 3129 Fenton Avenue, Bronx NY on February 8, 2023 (Video - Part 2).

Con Edison is re-connecting the electricity at 3129 Fenton Avenue, Bronx NY.

3129 Fenton Avenue, Bronx New York is about 80% done with interior work, the remaining work involves exterior work, and reconnection of water, sewer, and gas.

Black Real Estate Forum, LLC's mission is to build wealth and create jobs for Black people by investing via commercial real estate in Black communities across America (including Puerto Rico and the U.S. Virgin Islands).

The Property is currently a one-story, one-family residence with approximately 50x100 square feet of land and 1,602 square feet of building area, containing three bedrooms and one bathroom.

In the short term, BREF Fund I, LLC plans to gut-renovate the one-family property and rent it out to tenants for about 5 years (rental income will be used to service the mortgage debt).

After about 5 years and with interest rates and supply chain/construction costs stabilized, BREF Fund I, LLC plans to form a joint-venture partnership with a Black real estate developer to tear down the existing, one-floor structure and develop the property.

Although the exact details are still being developed, BREF Fund I, LLC anticipates that the redevelopment will contain approximately 50x100 square feet of land area and 5,200 square feet of building area, divided between two semi-attached townhouses; the planned townhouse will have two stories with two residential units, each containing three-bedrooms and two-bathrooms (four units).

After the completion of the redevelopment of the Property, BREF Fund I, LLC anticipates that the Project will have a value of $2,000,000 (each of the two townhouses is expected to sell for a minimum of $1,000,000).