Private Investment Memorandum
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This investment memorandum ("Memorandum") and all information contained herein is strictly confidential and has been prepared solely for the use of the individual or entity to whom it has been delivered. By proceeding, you agree to hold all information in strict confidence.
You agree not to reproduce, distribute, share, forward, or otherwise disclose the contents of this Memorandum — in whole or in part — to any third party without the express prior written consent of Hook Mill Properties.
Nothing in this Memorandum constitutes a solicitation, offer, or invitation to buy, sell, or subscribe to any security or investment product. Any investment decision must be made solely on the basis of your own independent evaluation and, where appropriate, independent professional advice.
This Memorandum contains projections, estimates, and forward-looking statements based on current assumptions and market data. These are subject to risks and uncertainties and should not be relied upon as guarantees of future performance. Actual results may differ materially from those projected.
You acknowledge that you have been advised to seek independent legal, financial, and tax advice before making any investment decision. Hook Mill Properties makes no representations as to the suitability of any investment described herein for any individual investor.
If you choose not to pursue an investment, you agree to promptly destroy or return all copies of this Memorandum and any related materials upon request.
Private Investment Memorandum · Confidential
A rare assemblage on Therese Court, East Hampton Village — directly across from the historic Hook Mill windmill.
Hook Mill Properties represents an exceptional opportunity to invest in one of the most coveted micro-markets in American real estate — the Village of East Hampton, New York. The project consists of twelve subdivided lots on Therese Court, a private road situated directly across from the landmark Hook Mill windmill, in the heart of the village.
The development is anchored by Lot 1 at 3 Therese Court — a meticulously restored 1864 historic residence that establishes the architectural identity and prestige of the entire collection. Seven lots are currently under active construction. This offering represents Phase 4 of a structured, multi-phase development program that began with property acquisition and has systematically progressed through infrastructure, subdivision, and construction commencement across all 12 lots.
This offering seeks to fund two sequential objectives for Lots 1, 3, 7, and 8 through a two-tranche capital raise totaling $25,750,000: Phase 4 ($15,750,000) retires existing bank and vendor debt, and Phase 5 ($10,000,000) funds remaining construction to bring all four homes to full completion — unlocking their combined projected finished value of $37,500,000.
This investment is part of a disciplined, phased development program. Phases 1 through 3 are complete. This offering is Phase 4.
We are seeking a total of $25,750,000 in private capital, structured across two sequential tranches:
Upon completion of both phases, the four homes are projected to have a combined finished value of $37,500,000 — representing a gross return of approximately 45.6% on the combined $25,750,000 raise. Investment structure, preferred return, profit participation, and timeline are to be determined in negotiation with investors. Consult your independent legal and financial advisors before investing.
East Hampton Village is among the most sought-after residential markets in the United States — characterized by extremely constrained inventory, a wealthy and resilient buyer pool, and a cultural cachet that transcends economic cycles. The village consistently commands price-per-square-foot figures that rival Manhattan's most desirable blocks.
Therese Court is a private road — an increasingly rare distinction in the Hamptons, conferring exclusivity and a sense of enclave that buyers at this price point actively seek. Its location places residents within walking distance of the village's finest restaurants, galleries, and beaches, while maintaining the privacy of a self-contained community. The visual anchor of the Hook Mill windmill directly across the street provides a historic backdrop that simply cannot be replicated.
Hook Mill Properties has already built and delivered a completed home on this street. The property below was sold as a lot, designed, and constructed by Hook Mill Properties — and remains owner-occupied today.
Twelve individually subdivided lots along a private road in East Hampton Village. This capital raise is focused on the four active lots. The remaining seven lots represent significant future value not encumbered by the current debt stack.
| Lot | Address | Status | Lot Size | Est. Finished SF | This Round |
|---|---|---|---|---|---|
| Lot 1 | 3 Therese Ct | Under Construction | 51,408 | 8,189 | ✦ |
| Lot 2 | 4 Therese Ct | Under Construction | 23,600 | 5,544 | — |
| Lot 3 | 6 Therese Ct | Under Construction | 22,760 | 5,114 | ✦ |
| Lot 4 | 8 Therese Ct | Empty Lot | 24,333 | 5,653 | — |
| Lot 5 | 10 Therese Ct | Empty Lot | 20,646 | 5,236 | — |
| Lot 6 | 12 Therese Ct | Sold | — | — | — |
| Lot 7 | 16 Therese Ct | Under Construction | 21,711 | 4,972 | ✦ |
| Lot 8 | 18 Therese Ct | Under Construction | 20,080 | 4,809 | ✦ |
| Lot 9 | 20 Therese Ct | Empty Lot | 21,365 | 5,435 | — |
| Lot 10 | 22 Therese Ct | Under Construction | 22,181 | 5,865 | — |
| Lot 11 | 24 Therese Ct | Empty Lot | 22,328 | 5,985 | — |
| Lot 12 | 26 Therese Ct | Foundation in Progress | 44,930 | 6,870 | — |
✦ Included in this capital raise
There is no comparable property in East Hampton Village. Sited on over 51,000 square feet — more than an acre — at the entrance of Therese Court directly across from the landmark Hook Mill windmill, 3 Therese Court is a meticulously restored 1864 historic residence that anchors the entire development with an architectural authority that simply cannot be built new. The main house spans 8,189 square feet across three levels, and is accompanied by a 2,002-square-foot barn — a rare accessory structure of extraordinary character that speaks to the agricultural heritage of East Hampton's earliest estates. Together they form a compound unlike anything currently available in the village market.
The scale of the property allows for an outdoor program rarely seen at this price point. The more than one-acre grounds accommodate a pool, extensive lawn, and the kind of mature landscape setting — anchored by established trees visible in both the current photos and the completed rendering — that takes generations to cultivate and cannot be replicated on a new-construction lot. The covered porches, period-appropriate detailing, and the sweeping gravel approach all contribute to a sense of arrival that is genuinely rare. Six bedrooms and eight baths — six full and two half — are distributed across three floors of a home where the bones are 160 years old and the systems will be entirely new.
Positioned at the literal entrance to Therese Court, this home is the face of the entire Hook Mill Properties collection. Its restoration establishes the standard of quality and the sense of place that defines every lot on the road. Hook Mill windmill, the shops and restaurants of East Hampton Village, and the Atlantic beaches are steps away — the rarest of combinations in a market defined by scarcity.
Work Completed to Date
As of Spring 2026, restoration includes: new foundation, three original porches, windows, exterior trim, siding, roofing, chimney, all materials chosen to replicate original appearance.
New construction includes: framed addition, foundation, front porch, windows, fascia trimmed, siding, roofing, double chimney, electrical panels, rough-in plumbing, rough-in HVAC, rough-in pool, water main, and septic.
Barn work completed includes: foundation, framing, siding, windows, exterior trim, roofing, rough-in plumbing, rough-in electric, rough-in HVAC.
Elevations, site plan & full plan set available upon request — info@prendergastdev.com
| Creditor | Type | Notes | Balance Owed |
|---|---|---|---|
| TD Bank | Bank Loan | Overdue | $2,900,000 |
| Subs & Materials | Invoiced | Work Completed | $1,382,192 |
Positioned at the entrance of Therese Court where the private road meets Accabonac Road, 6 Therese Court occupies one of the most visually prominent lots in the collection — a nearly half-acre parcel commanding immediate presence from the street. The 5,114-square-foot residence is designed in the classic Hamptons shingle style: cedar shingles, standing seam metal roofing, and a confident two-story profile with clean rooflines that photograph beautifully in every season. A dedicated 655-square-foot detached garage completes the property.
The outdoor program is exceptional for a lot of this size. Three distinct sunken pea gravel courtyards — front, side, and rear — create a layered sequence of intimate outdoor rooms that transition naturally between the interior and the gardens. A covered front porch welcomes arrivals, while a covered side outdoor porch and a second-floor covered balcony extend the living space skyward. Rear stone steps descend to an expansive bluestone patio — nearly 1,750 square feet of stone hardscape — which frames an 18-by-36-foot pool and dedicated pool patio beyond. A finished basement of nearly 1,500 square feet adds significant flex space for media, fitness, or staff.
Inside, five bedrooms and eight baths — five full and three half — are distributed across two floors designed for gracious entertaining and effortless everyday living, with ceiling heights and window proportions that flood each room with the particular quality of light that makes East Hampton irreplaceable. The village center, Hook Mill windmill, the boutiques of Newtown Lane, and the white sand of Main Beach are minutes away on foot or by bicycle.
Work Completed to Date
As of Spring 2026, work completed includes: lot cleared, excavated, backfilled, foundation, framed, sheathed, exterior trimmed, house wrapped, electrical panel, water main.
Full architectural plan sets available upon request — info@prendergastdev.com
| Creditor | Type | Notes | Balance Owed |
|---|---|---|---|
| Barclays | Bank Loan | Overdue | $2,500,000 |
| Subs & Materials | Invoiced | Work Completed | $567,192 |
Set on a 21,711-square-foot parcel in the heart of Therese Court, 16 Therese Court is the quintessential East Hampton retreat — a 4,972-square-foot shingle-style residence designed around a deeply considered outdoor living experience that begins the moment you arrive. The architecture speaks the language of the Hamptons with authority: cedar shingle cladding, a standing seam metal roof, and a broad, covered front porch that frames the arrival sequence and invites the outdoors in from every angle.
The site plan reveals a property conceived for indoor-outdoor living at its most refined. A dramatic sunken pea gravel courtyard — accessed by open metal stairs from the main level — anchors the side of the house as a private, open-air room unlike anything found in a standard Hamptons listing. Multiple covered outdoor porches — front, rear, and side — provide shaded living space across every orientation. A pergola extends the rear patio experience, where bluestone hardscape in excess of 1,500 square feet surrounds the pool and connects to a detached 634-square-foot garage via a thoughtfully landscaped motor court. The finished basement of nearly 1,420 square feet adds a full lower level ideal for recreation, home theater, or wellness.
Five bedrooms and seven baths — five full and two half — are arranged across two gracious floors. The second floor captures elevated views across the private road and neighboring green space that only a Therese Court address can offer. East Hampton Village, the Hook Mill windmill, and the Atlantic beaches of Main Beach and Two Mile Hollow are within easy reach — a rare combination of village convenience and seaside access that defines the most sought-after properties in the Hamptons market.
Work Completed to Date
As of Spring 2026, work completed includes: lot cleared, excavated, backfilled, foundation, framed, sheathed, exterior trimmed, house wrapped, electrical panel, water main, windows, rough plumbing, roughed pool, and septic.
Full architectural plan sets available upon request — info@prendergastdev.com
| Creditor | Type | Notes | Balance Owed |
|---|---|---|---|
| Sachem Capital | Bank Loan | Overdue | $2,900,000 |
| Subs & Materials | Invoiced | Work Completed | $712,192 |
At 18 Therese Court, the scale of the outdoor living environment is what immediately distinguishes this property from anything else on the market at this price point in East Hampton Village. Sited on a 20,080-square-foot lot with a 4,809-square-foot main residence and a detached 602-square-foot garage, the home is oriented to maximize the rear exposure — where a covered first-floor porch, a covered second-floor deck, a sunken pea gravel courtyard, and a stone patio converge into a seamless alfresco living sequence that reads more like a private resort than a single-family home.
The architecture is pure Hamptons: cedar shingle exterior, standing seam metal roof, generous window proportions with oversized slider and casement groups that dissolve the boundary between interior and exterior. The rear covered porch — visible and prominent in the elevation drawings — opens directly to the stone patio and pool, creating the kind of flow that makes summer entertaining effortless. The second-floor covered deck, positioned above the rear living spaces, captures prevailing southwest breezes and elevated views of the property. A finished basement of 1,371 square feet anchors the lower level. A secondary detached structure adds accessory gross floor area of 442 square feet — exceptional utility for a property of this size.
Five bedrooms and eight baths — five full and three half — are distributed with the ease and proportion of a home designed by people who understand how East Hampton families actually live. The village's finest restaurants, galleries, and shops are minutes away, as are Georgica Beach and the Atlantic Ocean. Few addresses in the Hamptons offer this combination of village walking distance, private road enclave, and a finished product built to the standard the market demands.
Work Completed to Date
As of Spring 2026, work completed includes: lot cleared, excavated, backfilled, foundation, framed, sheathed, exterior trimmed, house wrapped, electrical panel, water main, windows, roughed pool, and septic.
Full architectural plan sets available upon request — info@prendergastdev.com
| Creditor | Type | Notes | Balance Owed |
|---|---|---|---|
| Sachem Capital | Bank Loan | Overdue | $2,900,000 |
| Subs & Materials | Invoiced | Work Completed | $642,192 |
The following summarizes total capital required across all four active lots, proposed use of funds, and projected investor return.
| Creditor | Type | Lot 1 | Lot 3 | Lot 7 | Lot 8 | Total |
|---|---|---|---|---|---|---|
| Barclays (Lot 3) | Bank | $[—] | $[—] | $[—] | $[—] | $[Total] |
| Sachem Capital (Lots 7 & 8) | Bank | $[—] | $[—] | $[—] | $[—] | $[Total] |
| TD Bank (Lot 1) | Bank | $[—] | $[—] | $[—] | $[—] | $[Total] |
| Subs & Materials | Invoiced | $[—] | $[—] | $[—] | $[—] | $[Total] |
| Total All Active Lots | $[L1] | $[L3] | $[L7] | $[L8] | $[Grand Total] | |
| Term | Detail |
|---|---|
| Investment Structure | [Equity / Preferred Equity / Bridge Loan — TBD] |
| Preferred Return / Rate | [X]% — TBD |
| Profit Participation | [X / Y split — TBD] |
| Estimated Term | [X] months — TBD |
| Exit Trigger | Sale of completed homes / refinancing |
| Security / Collateral | [Mortgage position on lots — TBD] |
This memorandum is presented with full transparency. Risks are disclosed clearly — this is both an ethical obligation and a mark of the seriousness with which this opportunity is presented. Review all risks with independent financial and legal counsel.
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