Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 73

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 73
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 to Acquisition of Land for Development

    December
    31, 2024 
      December
    31, 2023
  
    Lacey
    Township, New Jersey, Pines property: 

    Cost
    to acquire property 
    $-  
    $1,583,012 
  
    Site
    engineering, permits, and other costs 
     -  
     809,245 
  
    Total
    Pines property 
     -  
     2,392,257 

    Other
    deposits: 

    Louis
    Avenue, Bayville, New Jersey-17 units 
     663,551  
     619,264 
  
    Berkeley
    Terrace – Bayville, New Jersey 70 units 
     -  
     2,325,401 
  
    Autumn
    Run – Clayton – New Jersey – 62 units 
     1,508,192  
     1,329,125 
  
    Other 
     658,275  
     139,885 
  
    Total
    other deposits 
     2,830,018  
     4,413,675 

    Total 
    $2,830,018  
    $6,805,932 

Properties
currently owned and either improved or under construction

Berkeley
Terrace – Bayville, NJ – 70 approved townhome units

The
Company has been in title to this property since 2021 and finalized an infrastructure and construction finance facility which closed
on 3/31/23. This facility included refinancing the land debt, securing funding for a large portion of the site construction, as well
as funding the first building of 10 townhomes. The amount of the facility is $4,670,000.

The
Company began infrastructure work on the property in June of 2023, with land clearing completed and the site stabilized for soils erosion
control. Sanitary sewer, water and drainage has been installed on the entire property.

All
building pads have been compacted and completed.

Base
paving has been completed and the entire site has been fully improved.

The
Company has entered into an agreement with a national builder to deliver improved building sites for this project. It is in the Company’s
opinion that the financial advantages inherent in the sale of a portion of the improved lots in this development outweigh the advantages
of