ARCFE GROUP 4
ARCFE Group 4 LLC was formed on April 18, 2013 to raise up to $16 MM investment capital, and the capital has been advanced in two parts: 1. Preferred Equity Investment of $3 MM to Dutch Kills Associates, LLC to develop a 7-story condominium building. Located at 14-01 Broadway, Astoria, NY 11106, the building consists of 76 residential units with 45 parking spaces (Project A);
2. A loan of $13 MM to 27-51 Jackson Ave LLC toward the construction of a 13-story mixed-use condominium building, which consists of 34 residential units and one commercial unit. The building is located at 27-49/51 Jackson Avenue, LIC, NY 11101 (Project B, together with Project A, the Projects). The loan is secured by the first mortgage on the Project B. The excavation started from Project A in November 2014 and construction of Project A is expected to be completed in June 2017.
The Project A and Project B are being developed by the Lions Group II LLC, founded by Mr. Albert Shirian and Mr. Ramin Shirian in 1984. Since then, they have been actively involved in real estate investment and development on Long Island and New York City. They have built luxury and/or high quality large suburban homes in prestigious areas in the North Shore of Long Island, as well as 1-4 family, multi-family, luxury condominiums projects in different parts of Queens, especially Long Island City, and Nassau County. The projects will be developed in cooperation with the following professionals:
- Architect and Engineering Designs
Raymond Chan Architect PC
Having formed Raymond Chan Architect in 2002, Mr. Chan is licensed to practice architecture in New York, New Jersey, Maryland and Pennsylvania. Over the years, he has designed numerous multi‐story and mid‐rise buildings including commercial, residence, mixed‐use, and hotels. Mr. Chan has won many design awards including design of the “China Buddhist Center” to jazzy “Beama Grill” in Manhattan, and “Asia Bank Loan Center”, “Asia Plaza”, “Queens Office Tower” and “New York Eye Center” among many other commercial projects.
- General Contractor
Mandarin Enterprises II Inc.
Established by its sole Principal, Mr. David Lo, in 2006, Mandarin Enterprises II Inc. has completed numerous multi-story and mid-rise commercial and residential buildings in the area.
ARCFE Group 4 will provide $16 MM in loan for construction of two buildings. After project completion, condo units will be sold to repay senior bank loan and EB-5 loan.