Manhattan’s first crowdfunded condo building to launch sales

Prodigy's AKA United Nations is set to open

The wisdom of the crowd is about to be tested as Manhattan’s first condo building funded by a large group of internet-based investors is primed to hit the market.

Prodigy Network’s Rodrigo Nino will begin booking guests and selling units as early as September at the company’s mew extended-stay hotel-condominium, the AKA United Nations at 234 East 46th Street.

The AKA UN, just west of the UN General Assembly Building, will house 95 one-bedroom condos, ranging from 562 to 662 square feet, with price tags from $1.2 million to $1.5 million. The units will be rented as extended-stay hotel rooms until they’re sold as condos, Bloomberg reported.

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The building was financed in part by 116 crowdfunding backers who each kicked in at least $20,000. A total of about $12 million was raised through crowdfunding.

About 90 percent of that money came from outside the U.S. Investors can expect a return of about 19 percent to 23 percent, Prodigy says. Brian Newman, Prodigy’s head of business development, told Bloomberg.

Prodigy bought its stake in the building in 2014. [Bloomberg]Ariel Stulberg