From: philip crifasi <
To: leslie groff <1
Subject: 8% return secured with First Mortgage
Date: Sat, 17 Mar 2012 02:55:47 +0000
Importance: Normal
Attachments: Harrisburg_Market_St_pics_(1).pdf; Harrisburg_McDevitt_Exec_Sum._Mixed-
Use 2012..docx
Hi Leslie: Today, I signed the contract to purchase a 127,000 sq. ft. Gothic Catholic School located in
Harrisburg, Pa. I will adapt its space into: a catering hall, offices for attorneys, lobbyists, medical, general use,
meeting rooms, a regional art and antique center, one or more restaurants and boutique retail. The school named,
The Bishop McDevitt Catholic High school, is located on a hill in Harrisburg, Pa. It is still in use until its new
school is ready in Feb. 2013 which is my settlement date.
If you are investing your client's funds, consider providing $4 million for this project, secured as a private First
Mortgage, with an 8% annual return, 20 year amortization with a balloon by the 5th or 10th year. As the State
Capital, Harrisburg is economically stable with an upward curve due to $1.2 Billion in new state fees from oil
and natural gas drilling.
If the building is only 30% occupied, it can pay the annual debt service of approx. $320,000. Most of the project
income will come from the catering hall with its food and alcohol income. We will manage this in-house and the
30,000 sq. ft. hall with its 40 ft. tall barrel ceiling will become a popular place for government associated events,
weddings, etc.
Please see the attachments and if interested, I would like to meet with you. No brokers are involved.
Sincerely,
Philip G. Crifasi, Jr.
480 Ocean Boulevard, Suite 8 B
Long Branch, N.J. 07740
Cell:
EFTA00417378