Where reputable, trustworthy and focused owners of profitable distressed investment opportunities need early-stage help, Thorobird invests money, time and expertise to realize optimal economic and social returns. The First Union Baptist Church project is an example:
In this situation, First Union Baptist, a Bronx community staple with a solid plan to re-purpose its sole property from a free-standing religious structure to mixed-use church and multifamily housing had its deed misappropriated by a lender in 2015. First Union came to Thorobird in need of early-stage support for litigation planning and investment and development expertise.
Thorobird hired an attorney, and architect and other consultants to assist in a thorough concept and legal analysis before deciding to take on the project. After a two years of investment in the litigation, with the help of Thorobird, the Church won its case in Septermber 2017 and is now working with Thorobird to develop the project.