Fund II
During this transitional stage of the real estate cycle, the Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) will focus on investments in Black communities that display favorable rental markets, employment, and population growth.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) are social impact private equity real estate funds that will invest with Black real estate entrepreneurs in small residential properties: one to ten units (new construction, gut renovations, and fix and flip).
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) being better capitalized than many local buyers will pass onto its Black real estate entrepreneurs the benefits of providing sellers with a greater certainty of closing in a shorter period of time.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two)'s investment objectives are to invest in assets that will enable them to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected ten-year hold period;
- preserve, protect, and return invested capital;
- create value for investors and the community through socially responsible investment management practices that include affordable housing (Section 8 Vouchers and Low-Income Housing Tax Credits) and creating jobs for local Black residents.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) will [ REQUIRE ] their Black real estate entrepreneurs to use their investment capital to hire Black: lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) are social impact private equity real estate funds that will invest with Black real estate entrepreneurs in small residential properties: one to ten units (new construction, gut renovations, and fix and flip).
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) being better capitalized than many local buyers will pass onto its Black real estate entrepreneurs the benefits of providing sellers with a greater certainty of closing in a shorter period of time.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two)'s investment objectives are to invest in assets that will enable them to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected ten-year hold period;
- preserve, protect, and return invested capital;
- create value for investors and the community through socially responsible investment management practices that include affordable housing (Section 8 Vouchers and Low-Income Housing Tax Credits) and creating jobs for local Black residents.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) will [ REQUIRE ] their Black real estate entrepreneurs to use their investment capital to hire Black: lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
3129 Fenton Avenue, Bronx, NY
$10,000 Investment In 2021$245,000 In Cash and $175,000 In Promissory Notes (10% Annual Interest Rate) Invested in 2023Projected Investment Income: TBD!
(Investment #1 - OPEN)

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Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) at 3129 Fenton Avenue, Bronx, NY.
In 2021, BREF Fund I, LLC (now Urban Real Estate Fund, LLC), with a $10,000 capital investment and the assumption of $315,000 in mortgage debt (and about $450,000 in additional debt), acquired the controlling interest in 3129 Fenton Avenue, Bronx, New York 10469 (the "Property").
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $708,883 on Redfin.com (as of December 24, 2024).
To date, the Urban Real Estate Fund, LLC has invested $330,000 (in debt and equity) to bring the property's mortgage current (remove the property from the pre-foreclosure legal process) and renovate the property as a two-family home. The property is currently a one-story, two-family residence with approximately 50x100 square feet of land. On January 20, 2025, the Urban Real Estate Fund II, LLC purchased a 50% ownership interest in 3129 Fenton Avenue, Bronx, New York 10469. Per the terms of the joint venture agreement, the Urban Real Estate Fund, LLC will sell to the Urban Real Estate Fund II, LLC:
1 - A 50% ownership interest (via a promissory note) for $500,000 at a 0% interest rate at five (5) payments of $100,000 per year (1st payment due on or before December 31, 2025).
[ Fund II ] will acquire the 50% portion (25x100 square feet) of the property that is currently vacant (parking space and backyard).
2 - [ Fund II ] in lieu of paying an annual interest rate via its acquisition of the property has agreed to pay 50% of the taxes, insurance, and expenses associated with the maintenance of the exterior of the property.
3 - [ Fund I ] will own the half of the property that has the two family house (and be responsible for 50% of the taxes, insurance, and be responsible for 100% of the maintenance costs of the house and its half of the backyard) and receive 100% of the rental income generated, depreciation, and appreciation of its half of the property.
4 - [ Fund II ] will own the other half of the property that is vacant and receive 100% of the rental income generated from parking fees, depreciation, and appreciation of its half of the property.
5 - [ Fund I ] and [ Fund II ] will each be listed as the owners of 3129 Fenton Avenue, LLC (the legal entity listed on the deed of the property). The first of two government voucher program tenants moved into the property in January 2025.
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $708,883 on Redfin.com (as of December 24, 2024).
To date, the Urban Real Estate Fund, LLC has invested $330,000 (in debt and equity) to bring the property's mortgage current (remove the property from the pre-foreclosure legal process) and renovate the property as a two-family home. The property is currently a one-story, two-family residence with approximately 50x100 square feet of land. On January 20, 2025, the Urban Real Estate Fund II, LLC purchased a 50% ownership interest in 3129 Fenton Avenue, Bronx, New York 10469. Per the terms of the joint venture agreement, the Urban Real Estate Fund, LLC will sell to the Urban Real Estate Fund II, LLC:
1 - A 50% ownership interest (via a promissory note) for $500,000 at a 0% interest rate at five (5) payments of $100,000 per year (1st payment due on or before December 31, 2025).
[ Fund II ] will acquire the 50% portion (25x100 square feet) of the property that is currently vacant (parking space and backyard).
2 - [ Fund II ] in lieu of paying an annual interest rate via its acquisition of the property has agreed to pay 50% of the taxes, insurance, and expenses associated with the maintenance of the exterior of the property.
3 - [ Fund I ] will own the half of the property that has the two family house (and be responsible for 50% of the taxes, insurance, and be responsible for 100% of the maintenance costs of the house and its half of the backyard) and receive 100% of the rental income generated, depreciation, and appreciation of its half of the property.
4 - [ Fund II ] will own the other half of the property that is vacant and receive 100% of the rental income generated from parking fees, depreciation, and appreciation of its half of the property.
5 - [ Fund I ] and [ Fund II ] will each be listed as the owners of 3129 Fenton Avenue, LLC (the legal entity listed on the deed of the property). The first of two government voucher program tenants moved into the property in January 2025.
This is not an offer to sell or a solicitation of any offer to buy any securities. Offers are made only by prospectus or other offering materials. To obtain further information, you must complete our investor questionnaire and meet the suitability standards required by law. Fair Housing Notice: The Urban Real Estate Fund, LLC, Urban Real Estate Fund II, LLC and the Black Real Estate Forum, LLC, are committed to compliance with all federal, state, and local fair housing laws. The Urban Real Estate Fund, LLC, Urban Real Estate Fund II, LLC and the Black Real Estate Forum, LLC will not discriminate against any person because of race, color, religion, national origin, sex, familial status, disability, or any other specific classes protected by applicable laws with regard to rentals and/or sales of housing.