Fund I
In 2025, the Urban Real Estate Fund, LLC generated $125,000 in investment income:
1 - $75,000 - 17 Orchid Road, Levittown, NY (Larry Thomas and Askari Foy, MBA, CPA).
2 - $50,000 - 319 Friends Street, Camden, NJ (Tony Payton, Jr.).
NOTE: Two investments are in DEFAULT as of October 26, 2025:
1 - (-$220,000) - Daphne McGee-Geathers at 6134 Washington Avenue, Philadelphia, PA
2 - (-$240,000) - Steven Ellis at 163 Grafton Street, Brooklyn, NY
During this transitional stage of the real estate cycle, the Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC will focus on investments in Black communities that display favorable rental markets, employment, and population growth.
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC are social impact private equity real estate funds that will invest with Black real estate entrepreneurs in small residential properties: one to ten units (new construction, gut renovations, and fix and flip).
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC being better capitalized than many local buyers will pass onto its Black real estate entrepreneurs the benefits of providing sellers with a greater certainty of closing in a shorter period of time.
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC's investment objectives are to invest in assets that will enable them to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected ten-year hold period;
- preserve, protect, and return invested capital;
- create value for investors and the community through socially responsible investment management practices that include affordable housing (Section 8 Vouchers and Low-Income Housing Tax Credits) and creating jobs for local Black residents.
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC will [ REQUIRE ] their Black real estate entrepreneurs to use their investment capital to hire Black: lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC are social impact private equity real estate funds that will invest with Black real estate entrepreneurs in small residential properties: one to ten units (new construction, gut renovations, and fix and flip).
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC being better capitalized than many local buyers will pass onto its Black real estate entrepreneurs the benefits of providing sellers with a greater certainty of closing in a shorter period of time.
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC's investment objectives are to invest in assets that will enable them to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected ten-year hold period;
- preserve, protect, and return invested capital;
- create value for investors and the community through socially responsible investment management practices that include affordable housing (Section 8 Vouchers and Low-Income Housing Tax Credits) and creating jobs for local Black residents.
The Urban Real Estate Fund, LLC and the Urban Real Estate Fund III, LLC will [ REQUIRE ] their Black real estate entrepreneurs to use their investment capital to hire Black: lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
2543 South Millick Street, Philadelpia, PA
$100,000 Line Of Equity Capital In 2025$50,000 Profit Payment Due In 12 Months/2026Investment #8 - OPEN
Thomas Lopez-Pierre of Urban Real Estate Fund, LLC and Black real estate entrepreneur: Donte Brown at 2543 South Millick Street, Philadelpia, PA.
In 2025, the Urban Real Estate Fund, LLC invested $50,000 and the Social Impact Real Estate Debt Fund, LLC invested $50,000 (a total of $100,000 in equity capital) via its joint venture partnership corporation: UREF Pryer Brown JV, LLC with Black real estate entrepreneurs: Donte Brown and Ray Pryer for the redevelopment of 2543 South Millick Street, Philadelphia, PA.
The investment capital was raised from Black accredited investors (medical doctors, lawyers, investment bankers, etc.).
Per the terms of our agreement, the Urban Real Estate Fund, LLC and Social Impact Real Estate Debt Fund, LLC will each be paid $25,000 per year for the next 5 years (representing an annual 50% rate of return on $100,000 in equity capital).
In addition, UREF Pryer Brown JV, LLC was listed on the deeds of two secondary properties (to protect investors from losses).
The investment capital was raised from Black accredited investors (medical doctors, lawyers, investment bankers, etc.).
Per the terms of our agreement, the Urban Real Estate Fund, LLC and Social Impact Real Estate Debt Fund, LLC will each be paid $25,000 per year for the next 5 years (representing an annual 50% rate of return on $100,000 in equity capital).
In addition, UREF Pryer Brown JV, LLC was listed on the deeds of two secondary properties (to protect investors from losses).
2466 Jefferson Court, East Meadow, NY
$165,000 Line Of Equity Capital In 2025$82,500 Profit Payment Due In 12 Months/2026Investment #7 - OPEN
Thomas Lopez-Pierre of the Urban Real Estate Fund, LLC/ Black Doctors Real Estate FundI, LLC/ Social Impact Real Estate Fund, LLC with Larry Thomas, Co-Founder at Venture Alliance Real Estate Enterprise at 2466 Jefferson Court, East Meadow, NY on July 11, 2025 (Part 1).
In 2025, the Urban Real Estate Fund, LLC extended a line of equity capital of $100,000 to Larry Thomas and Askari Foy, MBA, CPA, real estate entrepreneurs, into their project: 2466 Jefferson Court, East Meadow, NY.
In 2025, Larry Thomas and Askari Foy, MBA, CPA will be required to pay a $50,000 investment payment (50% rate of return) and return $100,000 in principal capital to the Urban Real Estate Fund, LLC.
In 2025, Larry Thomas and Askari Foy, MBA, CPA paid a $75,000 investment payment (50% rate of return/18 month term) on a $100,000 investment to the Urban Real Estate Fund, LLC.
Larry Thomas and Askari Foy, MBA, CPA plans to build a new one-family property.
Larry Thomas and Askari Foy, MBA, CPA plans to build a new one-family property.
319 Friends Street, Camden, NJ
$100,000 Line Of Equity Capital In 2024
$50,000 Paid In 2025 (12 Months - 50% Annual Rate of Return)
$50,000 Profit Payment Due In 12 Months/2026Investment #6 - OPEN
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate entrepreneur Tony Payton, Jr. at 319 Friends Street, Camden, NJ.
In 2024, BREF Fund I, LLC (now Urban Real Estate Fund, LLC) invested $100,000 with Tony Payton, Jr. into 319 Friends Street, Camden, NJ.
In 2025, Tony Payton, Jr. paid a $50,000 investment payment (50% rate of return).
In 2026, Tony Payton, Jr. plans to return the $100,000 in principal equity capital and a $50,000 profit payment to the Urban Real Estate Fund, LLC.
Tony Payton, Jr. used the Urban Real Estate Fund, LLC’s investment capital to help him aquire the rest of the block 319 Friends Street, Camden, NJ 08102 is located on to merge the properties into one development project.
Tony Payton, Jr. plans to build a 30 unit student housing development (right next door to Rutgers University).
Tony Payton, Jr. is a former member of the Pennsylvania General Assembly.
In 2026, Tony Payton, Jr. plans to return the $100,000 in principal equity capital and a $50,000 profit payment to the Urban Real Estate Fund, LLC.
Tony Payton, Jr. used the Urban Real Estate Fund, LLC’s investment capital to help him aquire the rest of the block 319 Friends Street, Camden, NJ 08102 is located on to merge the properties into one development project.
Tony Payton, Jr. plans to build a 30 unit student housing development (right next door to Rutgers University).
Tony Payton, Jr. is a former member of the Pennsylvania General Assembly.
17 Orchid Road, Levittown, NY
$100,000 Line Of Equity Capital In 2023
$75,000 Profit Payment Paid In 2025 (18 Months - 50% Annual Rate of Return)
Investment #5 - CLOSED
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate entrepreneur Larry Thomas at 17 Orchid Road, Levittown, NY.
In 2023, BREF Fund I, LLC (now Urban Real Estate Fund, LLC) extended a line of equity capital of $100,000 to Larry Thomas and Askari Foy, MBA, CPA, real estate entrepreneurs, into their project: 17 Orchid Road, Levittown, NY.
In 2025, Larry Thomas and Askari Foy, MBA, CPA paid a $75,000 investment payment (50% rate of return/18 month term) on a $100,000 investment to the Urban Real Estate Fund, LLC.
Larry Thomas and Askari Foy, MBA, CPA built a new one-family property that was sold. View construction progress video: https://youtu.be/rNVT4nxr3Cg (as of March 8, 2024) and https://youtu.be/9UPnxIPBjTo (as of September 18, 2024). Check out mock-up at: https://www.redfin.com/NY/Levittown/17-Orchid-Rd-11756/home/20366387
In 2025, Larry Thomas and Askari Foy, MBA, CPA paid a $75,000 investment payment (50% rate of return/18 month term) on a $100,000 investment to the Urban Real Estate Fund, LLC.
Larry Thomas and Askari Foy, MBA, CPA built a new one-family property that was sold. View construction progress video: https://youtu.be/rNVT4nxr3Cg (as of March 8, 2024) and https://youtu.be/9UPnxIPBjTo (as of September 18, 2024). Check out mock-up at: https://www.redfin.com/NY/Levittown/17-Orchid-Rd-11756/home/20366387
6134 Washington Avenue, Philadelphia, PA
$100,000 Line Of Equity Capital In 2023/2024$72,000 Payment Due In 24 Months/2025
Investment #4 - In Default
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate entrepreneur Daphne McGee-Geathers at 6134 Washington Avenue, Philadelphia, PA.
In 2024, BREF Fund I, LLC (now Urban Real Estate Fund, LLC) invested $100,000 with Daphne McGee-Geathers, a real estate entrepreneur, into her project: 6134 Washington Avenue, Philadelphia, PA.
Daphne McGee-Geathers is gut-renovating the one-family property for sale.
On March 25, 2025, Daphne McGee-Geathers FAILED to make her required payment of $72,000 and return $100,000 in principal capital to the Urban Real Estate Fund, LLC.
On August 29, 2025, the Urban Real Estate Fund, LLC deposited a check for $72,000 into its bank account from Daphne McGee-Geathers that a few days later bounced (was returned for insufficient funds - see below photo). On September 30, 2025, Thomas Lopez-Pierre of the Urban Real Estate Fund, LLC filed a [ breach of contract lawsuit ] in the Supreme Court of the State of New York against Daphne McGee-Geathers to protect its Black investors. Click Here To View A Copy Of The Lawsuit Documents.
On August 29, 2025, the Urban Real Estate Fund, LLC deposited a check for $72,000 into its bank account from Daphne McGee-Geathers that a few days later bounced (was returned for insufficient funds - see below photo). On September 30, 2025, Thomas Lopez-Pierre of the Urban Real Estate Fund, LLC filed a [ breach of contract lawsuit ] in the Supreme Court of the State of New York against Daphne McGee-Geathers to protect its Black investors. Click Here To View A Copy Of The Lawsuit Documents.
On October 18, 2025, Thomas Lopez-Pierre of the Urban Real Estate Fund, LLC filed a [ mortgage fraud criminal complaint ] with the Philadelphia Police department, Philadelphia District Attorney’s' Office of Economic Crimes and the Philadelphia Department of Records regarding his signature being forged on three mortgage documents: Federal Housing Administration (FHA) Loan [ see below screenshot ].
On December 11, 2025, Daphne McGee-Geathers was arrested in Philadelphia, Pennsylvania and charged in connection with an alleged mortgage fraud scheme with regard to 6044 Washington Avenue, Philadelphia, PA 19143.
https://ujsportal.pacourts.us/Report/CpDocketSheet?docketNumber=MC-51-CR-0023041-2025&dnh=%2Bn3GPTAGXrWOChFmXeENmw%3D%3D
Thomas Lopez-Pierre of the Urban Real Estate Fund, LLC is committed to working with Federal, State and Local law enforcement agencies to ensure that the [ ALL guilty parties are arrested and held accountable ] to the highest level of the law.
NOTE: Mortgage fraud with regard to a Federal Housing Administration (FHA) Loan is a felony in the State of Pennsylvania and the Federal Government of the United States of America.
NOTE: Mortgage fraud with regard to a Federal Housing Administration (FHA) Loan is a felony in the State of Pennsylvania and the Federal Government of the United States of America.
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The Urban Real Estate Fund, LLC will seek a court order to take 100% ownership of the 50% of 6044 Washington Avenue, Philadelphia, PA that is owned by Daphne McGee-Geathers (the remaining 50% of 6044 Washington Avenue, Philadelphia, PA is owned by the Urban Real Estate Fund, LLC).
6044 Washington Avenue, Philadelphia, PA was used by Daphne McGee-Geathers as collateral to ensure that the Urban Real Estate Fund, LLC is paid.
In addition, Urban Real Estate Fund, LLC will used the debt judgment to then go after Daphne McGee-Geathers' personal and business assets.
6044 Washington Avenue, Philadelphia, PA was used by Daphne McGee-Geathers as collateral to ensure that the Urban Real Estate Fund, LLC is paid.
In addition, Urban Real Estate Fund, LLC will used the debt judgment to then go after Daphne McGee-Geathers' personal and business assets.
163 Grafton Street, Brooklyn, NY
$100,000 Line Of Equity Capital In 2024$75,000 Profit Payment In Default As of May 16, 2025
Investment #3 - In Default
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Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) and Real Estate entrepreneur Steven Ellis in Brownsville, Brooklyn, NY.
In 2021, BREF Fund I, LLC (now Urban Real Estate Fund, LLC) invested $50,000 with Steven Ellis into 163 Grafton Street, Brooklyn, NY (a gut-renovation of a three-family property for rental income).
In 2022, the Fund invested an additional $50,000 with Steven Ellis.
In 2023, Steven Ellis paid $100,000 ($50,000 investment income and $50,000 in principal equity capital on a $100,000 equity investment).
In 2023, the Fund invested an additional $50,000 with Steven Ellis.
In 2024, the investment was rolled over for the second year at $150,000 due to a delay in the renovations of the property because of the challenges with the utility company connecting the building to the power grid. On May 16, 2025, Steven Ellis FAILED to close out the investment with a $225,000 payment.
Over the last six months, Steven Ellis has refused to have a telephone or in-person conversation with Thomas Lopez-Pierre.
The Fund holds a 33% ownership interest in the property.
The Fund plans to file a lawsuit in Brooklyn Supreme Court to secure its $225,000 payment (and legal fees). As of 2024, the Fund no longer invests directly in any property with Black real estate entrepreneurs (the Fund now requires Black real estate entrepreneurs to provide a secondary property as collateral to help ensure repayment of investments).
In 2023, Steven Ellis paid $100,000 ($50,000 investment income and $50,000 in principal equity capital on a $100,000 equity investment).
In 2023, the Fund invested an additional $50,000 with Steven Ellis.
In 2024, the investment was rolled over for the second year at $150,000 due to a delay in the renovations of the property because of the challenges with the utility company connecting the building to the power grid. On May 16, 2025, Steven Ellis FAILED to close out the investment with a $225,000 payment.
Over the last six months, Steven Ellis has refused to have a telephone or in-person conversation with Thomas Lopez-Pierre.
The Fund holds a 33% ownership interest in the property.
The Fund plans to file a lawsuit in Brooklyn Supreme Court to secure its $225,000 payment (and legal fees). As of 2024, the Fund no longer invests directly in any property with Black real estate entrepreneurs (the Fund now requires Black real estate entrepreneurs to provide a secondary property as collateral to help ensure repayment of investments).
39 High Avenue, Pembroke, MA
$100,000 Investment In 2022
$60,000 Profit Payment Paid In 2025 (18 Months - 40% Annual Rate of Return)
Investment #2 - CLOSED
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate Developer Askari Foy, MBA, CPA at 39 High Avenue, Pembroke, MA.
In 2022, BREF Fund I, LLC (now Urban Real Estate Fund, LLC) invested $100,000 into Venture Alliance - 39 High Avenue, LLC.
In 2023, BREF Fund I, LLC was paid $60,000 (a 40% rate of return) and the return of $100,000 in principal investment capital from Venture Alliance - 39 High Avenue, LLC (the "Company").
The Company is an investment vehicle managed by Askari Foy, MBA, CPA and Larry Thomas, experienced Black real estate developers and Co-Founders of Venture Alliance Real Estate Enterprise.
NOTE: The property was sold prior to development for a profit in 2023.
3129 Fenton Avenue, Bronx, NY
From 2021 to 2025, the Urban Real Estate Fund, LLC has invested $330,000 in debt and equity
(Sold For $1,199,461)!
Investment #1 - CLOSED
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC and BREF Fund I, LLC (now Urban Real Estate Fund, LLC) at 3129 Fenton Avenue, Bronx, NY.
In 2021, BREF Fund I, LLC (now Urban Real Estate Fund, LLC), with a $10,000 capital investment and the assumption of $315,000 in mortgage debt (and about $450,000 in additional debt), acquired the controlling interest in 3129 Fenton Avenue, Bronx, New York 10469 (the "Property").
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $705,167 on Redfin.com (as of April 30, 2025).
The Urban Real Estate Fund, LLC invested capital to bring the property's mortgage current (remove the property from the pre-foreclosure legal process) and renovate the property. The property is currently a one-story, one-family residence with approximately 50x100 square feet of land. In January 2025, a tenant using a government voucher program moved into the property at a rent of $3,910 per month. On April 30, 2025, the property was acquired for $1,199,461 (non-cash transaction/assumption of secured and unsecured debt) via a joint-venture partnership with the Social Impact Real Estate Debt Fund, LLC managed by Thomas Lopez-Pierre.
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $705,167 on Redfin.com (as of April 30, 2025).
The Urban Real Estate Fund, LLC invested capital to bring the property's mortgage current (remove the property from the pre-foreclosure legal process) and renovate the property. The property is currently a one-story, one-family residence with approximately 50x100 square feet of land. In January 2025, a tenant using a government voucher program moved into the property at a rent of $3,910 per month. On April 30, 2025, the property was acquired for $1,199,461 (non-cash transaction/assumption of secured and unsecured debt) via a joint-venture partnership with the Social Impact Real Estate Debt Fund, LLC managed by Thomas Lopez-Pierre.