This Fund was set up to raise up to $19 MM EB-5 investment capital to finance two development projects in prime locations in Long Island City.
1. Preferred Equity Investment of $3 MM to Dutch Kills Associates, LLC to develop a 8-story condominium building. Located at 14-01 Broadway, Astoria, NY 11106, the building consists of 80 residential units with 45 parking spaces. The Broadway provides a stunning collection of 1, 2 and 3 bedroom apartments at 1401 Broadway. Stylishly designed, it stands out as an exceptional rental residence that combines gracious interiors with outstanding amenities and a lively social scene.
2. A loan of $15 MM to 27-51 Jackson Ave LLC toward the construction of a 14-story mixed-use condominium building, which consists of 74 residential units and one commercial unit. The building is located at 27-49/51 Jackson Avenue, LIC, NY 11101. The lot area is 8,000 SF and the gross construction floor area is 86,000 SF. The first and second floor will have about 13,500 prime retail spaces. From the third to fourteenth floor are 74 condominiums units including studio, one bedroom, two bedroom, and three bedroom units. The loan is secured by the first mortgage on the Jackson.