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60 Elm Street

Historic four-unit building in Albany's Mansion District, with excellent mechanicals ready for a cosmetic rehab and doubling of rents.

Purchase Price: $260,000

Capital Fund: $100,000 CapEx, with $50,000 reserve

Returns: 100% of Capital within 6-8 months

Cash Flow After Reversion: 10%

Split: 80% LP, 20% GP


Investment Highlights

  • High investor activity - in this neighborhood there have been 6 residential sales, 4 commercial sales, and 22 multifamily sales within a .2 mile radius since Jan 2021.

  • Hattie's Restaurant - A popular creole restaurant in Saratoga Springs is opening up a second location in the old Lombardo's Restaurant, which is a great sign for free future appreciation. Located at 121 Madison Ave.

  • A new supermarket is going in at the old McDonald's Location, which is another sign of massive future growth and free appreciation.

  • Only .1 miles from the renowned Cafe Cappricio

  • Located across the street from the Governer's Mansion

  • We already own another building next door, which has had a successful project

  • 9Ft Ceilings

  • Timeless historic architecture, with a possibility for historic tax credits

  • Quickly appreciating location

WhatsApp Image 2022-06-16 at 3.14.35 PM.jpeg

Fees and Distributions: Ownership reflects a 80% split to investors, and 20% split to sponsors.

Attorney: Aaron Goodman, Nussbaum Law Group, PC, 1211 6th Ave, New York, NY 10036

Sponsors: Nochum Rabin and Wesley Sherow

Financial Summary

60 Elm Street
Project Type
4 Unit Cosmetic Rehab
Acquisition and ARV
Purchase Price
Renovation Cost
Renovation Reserve
After Repair Value
Refinance Proceeds
Cash Flows
Residential Income
Short Term Rental Income
Property Management
Repairs & Maintenance
Debt Service
Cash Flows (Post-Refi)

Two Doors Down

Here's what another local developer just completed two doors away


This is a small collection of similar properties that sold on or about at the ARV we are projecting on this project. 

About Albany

There are some interesting factors that make Albany a great investment location.

  • Albany is not a cyclical market but has always provided solid cash flow due to the amount of local colleges, hospitals, and government jobs.  

  • One hour from the Adirondacks, a couple hours from Boston, NYC, Montreal.

  • Cost of living is low (and thus cost of hiring, doing business, etc.) here is low compared to other cities.

  • Regeneron has a major presence here, including the Nanotech programs, Globalfoundries, and other big industries.

  • Movie production is becoming increasingly prominent in the capital region, and is a burgeoning industry.

  • There are underdeveloped regions in Albany that see a clear expectation for future development, so capturing appreciating markets is relatively predictable, if not inherently stable locally. 


Terms & Conditions

This  summary  is  for  informational  purposes  only  and  does  not  constitute  an  offer  to  sell  any  equity  interests.  Offers will only be made to prospective investors by delivery to them of an execution copy of a  limited  liability  Company  agreement,  partnership  agreement  or  other  joint  venture  agreement  regarding  the  Company  (the  “agreement”).  The  Company  shall  have  no obligation  to  make  an  offer to any  person.  Information  contained  in  this  summary  has  been  obtained  from  the  Company  as  well  as  from  sources  prepared  by  other  parties.  While  such  other  sources  are  believed  to be  reliable,  the Company does not assume any responsibility for the accuracy or completeness of such information. Any Photos herein are representative only and do not depict the property. Each prospective investor should make  his  or  her  own  independent  examination  and  evaluation  of  the  information  and  documents  referred  to  herein.  No  person  has  been  authorized  to  make  any  representations  concerning  the Company  or  equity  interests  in  the  Company  that  are  inconsistent  with  those  contained  in  this  summary.  Prospective  investors  will  be  afforded  the  opportunity  to  ask  questions  of  and  receive answers  from  the  Company’s  management,  and  are  urged  to  make  such  personal  investigations,  inspections  or  inquiries  as  they  deem  appropriate.  Prospective  investors  should  also  carefully  review the terms of the agreement. Tax aspects of an investment in the Company require careful and informed study  with  respect  to  an  investor’s  personal  tax  and  financial  position.  Prospective  investors  should  consult  with  their  personal  legal,  tax  and  financial  advisors.  This  summary  contains  forward‐looking statements.  While  forward‐looking  statements  are   based  on  certain  historical  trends,  current  conditions,  expected  future  developments  and  other  factors  the  Company  believes  are  appropriate, such  statements  are  not  guarantees  of  future  performance  and  are  subject  to  risks,  uncertainties  and  other  factors,  many  of  which  are  beyond  the  control  of  the  Company  and  its  affiliates,  are  difficult  to predict  and  could  cause  actual  results  to  differ  materially  from  those  expressed  or  forecasted  in  the  forward‐looking  statements.  Potential  investors  are  cautioned  not  to  place  undue  reliance  on  these forward‐looking  statements.  There  can  be  no  assurance  that  the  results  that  the  Company  anticipates  will  be  realized  or, even  if substantially  realized,  that  they  will  have  the  expected  consequences  to  or effects  on  the  Company  or  its  investors.  Statements  contained  in  this  summary  speak  only  as  of  the  date  of  this  summary.  The  Company  and  its  affiliates  assume  no  obligation  to  update  publicly  or otherwise  any  forward‐looking  statements,  whether  as  a  result  of  new  information,  future  events  or  otherwise.  This  summary  has  been  prepared  solely  for,  and  is  being  delivered  on  a  confidential  basis. The  acceptance  of  this  summary  constitutes  an  agreement  on  the  part  of  the  recipient  (1)  that  the  information  contained  in  this  summary,  as  well  as  any  supplemental  information  provided  to  the recipient by the Company or any of its representatives, either orally or in writing, is proprietary to the Company,  (2)  that  the  recipient  shall  maintain  the  confidentiality  of  the  information  contained  in  this  summary  and  any  such  supplemental  information,  and  (3)  that  the  recipient  shall  not  use  the information in this summary or such supplemental information for any  purpose other than to evaluate  any investment in the Company. All opinions expressed and data provided herein are subject to change without notice. The investment mentioned in this report may  not be  suitable for all types of investors.  All  investments  involve  different  degrees of  risk.  You  should  be  aware  of your  risk  tolerance  level  and financial situations at all times. Furthermore, you should read any and all  prospectuses carefully before  making any investment decisions. All investments are subject to market risk and may result in the entire loss  to  the  client's  investment.  You  are  free  at  all  times  to  accept  or  reject  all  investment  recommendations made by Copper Club Management LLC. Past performance is no guarantee of future results, and current  performance  may  be  lower  or  higher  than  the  performance  data  quoted.  This  is  subject  to  correction  of errors,  omissions,  change  of  price,  or  withdrawal  without  notice. The  foregoing  is  not  an offer  to  sell  or a  solicitation  of  an offer  to  buy,  any  security,  nor  shall  any  such security  be offered or  sold to any person in any jurisdiction in which such offer, solicitation, purchase or sale may not lawfully be made and other than in accordance with applicable legal requirements. Any investment may only be made by a qualified investor. 


Executive Summary
281 State Street
Albany, New York 12210
Tel: (518) 254-8235

Copper Club Management, LLC

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