Spandrel Sponsors Fund II, LP

Other real estate
Rule 506(b)
New York, New York
Amended Nov 5, 2026

Raising: Indefinite; No set size
Sold so far: $19,910,000
Investors: 37
Average check: $538,108; Sold ÷ investors
Minimum: $250,000
Sales commissions: $0; Issuer's estimate

In plain English

Spandrel Sponsors Fund II, LP, a real estate business based in New York, New York, filed an amended Form D with the SEC on Nov 5, 2026 for an offering with no set size. It reports about $19.9 million raised from 37 investors. That works out to roughly $538,000 per investor. The smallest investment it accepts from an outside investor is $250,000.

It filed under Rule 506(b), which means the offering can't be advertised to the public. Investors in these deals usually already have a relationship with the sponsor.

How it compares

Against the 584 real estate offerings filed Oct 7 – Nov 5, 2026.

This offeringMedian

Raise sizeIndefinite vs $7.5M median

No set size, so it can't be ranked against the 450 offerings that set one.

How much is sold$19.9M sold

With no set size there's no share sold to compare.

Minimum investment$250,000 vs $50,000 median

Higher than 84% of the 418 offerings that stated a minimum.

Where the sponsor is based

The New York housing market

Typical home value $525KChange, 12 months 5.6%New York metro $731K

Form D lists the issuer's principal place of business, not where its properties are. Home values for Sep 2026.

See New York market data

Filing details

File number: 021-464194
Latest filing: Form D/A (amendment), Nov 5, 2026
Accession number: 0001938813-26-000002
Entity type: Limited Partnership
Industry group: Other Real Estate
Principal place of business: New York, New York
Exemption claimed: Rule 506(b)
First sale: Nov 9, 2022

Timeline

First sale
Nov 9, 2022
Latest amendment (Form D/A) filed
Nov 5, 2026
$19.9M sold
As reported Nov 5, 2026

Other recent filings from New York

All fund filings

This page summarizes a notice Spandrel Sponsors Fund II, LP filed with the SEC. Fidelis First is not affiliated with Spandrel Sponsors Fund II, LP, has not reviewed this offering and does not recommend it. Nothing here is an offer to sell or a solicitation of an offer to buy any security. Figures are as the issuer reported them on Nov 5, 2026 and may have changed since.

Sales commissions are the issuer's estimate for the whole offering, not amounts paid so far. Average check is derived: amount sold divided by number of investors. Issuers don't have to amend a Form D when sales or investor counts change, so these can lag.

Source: SEC EDGAR, Form D · As of Nov 5, 2026

Source: Data Provided by Zillow Group · As of Sep 2026