Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 211

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1B
Chunk 211
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    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 building and selling or leasing the entire development.

The
Company sold two 10-unit building pad sites in 2024. A national builder began vertical construction of Building 8 began in December of
2023, and Building 1 began in July of 2024.

As
of September 30, 2024, 20 improved building pads had closed title to the national builder.

The
remaining buildable lots will close during 2025 and Q1 of 2026.

Subsequent
event: Building Pad 6, comprised of 8 improved building pads, was sold