Introduction

PointBreezeway is an event space tucked away on Reynolds Street in one of Pittsburgh's East End neighborhoods, Point Breeze. Lauren McMillen, majority owner, and her father, Dennis Inserra, run the PointBreezeway business side-by-side. Lauren is a Pittsburgh native while her father was born and raised in Monongahela. He has owned the property for 30 years.

We are looking to borrow up to $82,000 at an interest rate of 10.50% over a 60 month term.



About PointBreezeway

If you visit us over the weekend, you'll see a vibrant and charming place hosting small weddings, bridal showers, rehearsal dinners, concerts and other private events.

Folks from all over the Pittsburgh area and beyond choose to rent PointBreezeway for its eclectic and homey personality. When you walk through the doors, you are instantly hugged by its history, natural light, carefully chosen decor, and of course, Lauren and Dennis' hospitality. A room dubbed "The Speakeasy" sits to your right and "The Tea Room" to your left with an adjacent outdoor patio. The Speakeasy is typically used to display food and desserts while The Tea Room allows people to eat, gather, and laugh.

If you peek through windows of the back door, you'll notice a beautiful backyard surrounded by a chestnut tree, an enormous silver maple, rows of arborvitae and fig trees. Last year, the yard was given a patio of reclaimed brick; this area is used for wedding receptions.



As a small venue, PointBreezeway can host 35-40 guests for private events and up to 60 guests (using the inside and out) for weddings.

PointBreezeway is a mixed-use property neighboring Prohibition Pastries, The Frick Park Market, Frick Park itself, and the Frick Museum! A lot of Frick, indeed.

Born circa 1890, the now PointBreezeway structure started as a utility barn and then made its way to a tavern, then speakeasy, confectionery, tea-room, post office, laundromat––you name it. All in all, it’s been a welcoming gathering space for the community for over 100 years.

As if your heart wasn't bursting already, Lauren grew up in the building with her father. They moved there in 1990 when it was a triplex and Dennis purchased it in 2000. His plan was to turn the commercial floor into a cafe. Construction started to open up the space and the French doors went in. Dennis is an amazing visionary and truly the root of success for the future PointBreezeway. Sadly, his visions weren't met with enough financing and a solid business plan so the space sat, unfinished until 2014. 



As a child, Lauren watched her father tirelessly keep their home afloat by hosting informal community gatherings, art shows, house concerts, popup sales––all which brought a very modest profit, if any profit at all. Lauren admits that she used to write letters about her father to Ellen in hopes that he could go on the show (she's still waiting!). Over the years, too much money continued to be lost and Dennis decided that it was time to sell the property. Then Lauren stepped in. She had so much love for her home and father's vision; she wanted to bring it to life.

After an inspiring event at Chatham’s Center for Entrepreneurship, she came up with a plan, got a business loan, and opened the doors as an event space in 2014. PointBreezeway was born and turns a mighty six years old in July.

The vision for the future is simple: to gain more event space and enhance the way we can host events.



Inside: Lauren and Dennis are currently renovating a portion of rooms above the venue. Their goal is to create a hospitality-driven package for couples to rent the property for a night or two. There will be two sleeping rooms, a full bath, and a sitting room with clean, minimal, and warm decor. Weddings are the focus for growth. At a higher price point and more to offer, this plan will help the business exponentially. And then, imagine this: they ultimately want to join the Tea Room with the upstairs space but cutting into the ceiling. Adorned with casual seating, and the new windows overlooking Frick Park, folks can look over a balcony and see all their friends below. This is their big dream. Baby steps. 

Outside: the side patio has so much potential. As of now, there is a 20x20 tent covering a small area. It does its job against light rain but we need much more. The tent would come down and a lovely, cottage-style structure would take its place. Imagine something that could open up in the summer and be enclosed and heated in the winter. This improvement will also offer more seating.


The back area of our space.


The pair are always dreaming up different uses for our home and that's a lot of fun.

The overall big vision: more weddings, more space, more coverage, more charm.

PointBreezeway and its future is so deeply rooted in us and we love it. There have been so many challenging years that came with fun, fear, joy, worry, and a sense of accomplishment. Taking a historic property that requires so much attention and money to preserve is not for the faint of heart and we’ve continued to do so with passion.

Lauren is a newer mother of twin boys, Leopold and Miles, and Dennis is a proud grandpa (Nonno) who not only maintains the property but also hosts events and watches the boys throughout the week so that Lauren can work.

By investing in us, you are supporting a family, preserving the past, and giving the opportunity for many more people to celebrate some of the most important moments in their lives. Our future thanks you.


Fast Facts

  • PointBreezeway is a family home.
  • Historically, the property has been a utility barn, a tavern, a speakeasy, a confectionery and a tea room.
  • PointBreezeway is operated by a father and daughter.
  • PointBreezeway is always described as a "hidden gem" or "off the beaten path" in publications.
  • Lauren and Dennis take pride in supporting other small businesses by inviting them to be a preferred vendor. 
  • PointBreezeway’s mission is to be as sustainable as possible. We recycle, reuse and compost throughout each event and offer guidance to those wanting to make their event as waste-free as possible. 


The Project

The Honeycomb funds will be used to refinance the debt that we have accumulated over the past few years. Our debt trickles from costs to become ADA compliant and many necessary improvements and maintenance.

One lower payment each month will allow more funds to be allocated to growth and marketing.

Saving between $500-$1000 each month is huge. The extra money will be used to finish the upstairs project and then a new financial structure and plan can be put into place for the outside project.

Growth will be so tangible and a weight will be lifted. We’ll be able to sit down with a financial advisor to design a new future for PointBreezeway.

When we are able to offer a finished suite with the new wedding package, our projection for 2021 will increase by 20%.

With the outside project at a closer reach, our 2022 projection will be amazing!

A full-time employee can be offered benefits, more promotional and charitable events can be planned, more musicians can be brought in to play, more people will know about our venue, and a real profit can be made to feed Lauren and Dennis' crazy future business plans (and hungry stomachs, of course).

All in all, a new start will be gifted and that's more than we could ever hope for.



About the Owners

Lauren McMillen

Lauren McMillen is the majority owner of PointBreezeway. She was born in Pittsburgh, PA and raised mainly in the East End. Prior to starting her business, she attended Bradford Business School. Her first job after she graduated was with BNY Mellon, where she met her husband. Although she went to school for legal studies, she moved on and became the assistant manager for a lovely store called Brighton Collectibles. Most of Lauren's experience sits with customer service and hospitality. She opened the PointBreezeway in 2014 and left her job with Brighton in 2015. Currently, she's a mom to three year-old twin boys and lives in Ross Township with her husband, James. Lauren enjoys frequent daydreaming, that first cup of coffee, chatting with the universe, and giving her dad a hard time.

Dennis Inserra

Dennis Inserra is part owner of PointBreezeway. He was born and raised in Monongahela, PA, attended Marquette University, and graduated with a B.A in Theology. He then went on to gain his M.S. Ed. from Duquesne University. Dennis was a religion teacher for Oakland Catholic from 1984-1996 and then moved on to social work as a Mobile Therapist/Behavioral Supports Coordinator for the remainder of his career. He left the field in 2015 and has worked for and with PointBreezeway since 2015. Dennis moved into the now PointBreezeway property with his daughter, Lauren, in 1990 and purchased the building in 2000. His "semi-retired" years are spent with the business, his partner Suzanne and his grandsons, Leopold and Miles. Dennis is known as "The Mayor of Point Breeze" and he enjoys history, cooking, telling Lauren what to do, and anything Appalachian.


Dennis Inserra, left, and his daughter Lauren McMillen are the duo behind PointBreezeway.


Deal Summary

Issuer

  PointBreezeway LLC

Security Type

  Unsecured Loan

Loan Purpose

 Refinance of high interest debt

Offering Amount

  $20,000 - $82,000

Interest Rate

  10.50%

Payments

  Monthly, Disbursed to Investors Quarterly

Maturity

  60

Personal Guaranty  

 Lauren McMillen

Security Interest

 None

 


Your Earnings Potential

If you choose to invest, you will make a one-time investment via ACH that will be transferred to a secure escrow account. If the campaign successfully reaches its target, the funds will be distributed to PointBreezeway LLC.

For more information on the mechanics of Honeycomb’s crowd investing platform, please review our Education Materials.

Investment Amount One-Time Fee Potential Quarterly Returns* Potential Total Repayment*
$100 $2.85 $6.44 $128.96
$500 $14.25 $32.24 $644.81
$1,000 $28.50 $64.48 $1,289.63
$5,000 $37.25 $322.40 $6,448.17

*Individual payments may vary slightly based on rounding. Potential repayments include principal and interest; they do not include the one-time fee which is assessed when you make your investment. These amounts are calculated as a fully amortizing loan, which means that principal and interest are paid down starting with the first payment. There are no prepayment penalties and PointBreezeway LLC may pay down their loan early, which may impact your earnings potential. Please note, returns are not guaranteed and investors could lose some or all of their investment.

Your ongoing responsibilities from investing are very limited. Over the life of the loan, you will receive a yearly 1099-INT, which is a simple tax document similar to what you receive for most savings accounts.

PointBreezeway LLC pays as agreed. You will receive quarterly payments directly into your bank account. In the event of a default, you will be contacted by the administrative agent to manage the collections process on the investors' behalf.


How Honeycomb is Compensated

Honeycomb charges PointBreezeway LLC a $250 posting fee and a 7.0%-8.0% loan origination fee on the total amount funded.

Additionally, to cover expenses associated with each investment, Honeycomb charges a 2.85% investment fee capped at $37.25 per investor.

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