Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 282

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 282
---
   
     $5,115

    Vehicles 
       29,272
                                                
       60,772

    Model
    furnishings and improvements 
     117,086  
     - 
  
    Less:
    Accumulated depreciation 
       (69,187
                                            ) 
       (65,887
                                            )

    Property
    and Equipment- net 
    $115,786
                                                
     $-

Depreciation
expense for the years ended December 31, 2024 and 2023 was $3,300 and $6,216, respectively.

    F-9

3- Deposits
and Costs Coincident to Acquisition of Land for Development

 Deposits
and costs coincident to acquisition of land for development are summarized as follows:

 Schedule of
Deposits and Costs Coincident 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