ARCFE GROUP 5&6 – 11th Street Condominium
GROUP 5&6 – Bond LIC Condominium
ARCFE Group 5 LLC and ARCFE Group 6 LLC were formed on May 7, 2014 for the purpose of raising up to $7 MM investment capital to a project permitted under the EB-5 Immigration Investor Program. ARCFE Group 5 raised $3 MM from 6 investors and invested it as equity in the Project. ARCFE Group 6 raised $4 MM from 8 investors and invested it as Mezz Loan in the Project. The project has a total finished area of approximately 58,000 square feet. It is a 7-storey residential condominium building with 42 residential units and 22 parking spaces and located at 46-20 11th Street, LIC, NY 11101. The Mezz loan is secured by the assets of Bond LIC Condominium LLC.2019. I-526 Approved.
11th Street Condominium LLC was formed under the laws of New York State on May 30, 2014, to hold and develop the real estate at 46-20 11th Street, LIC, NY 11101. ARCFE Capital LLC is designated as the Manager for 11th Street Condominium LLC. ARCFE Capital LLC will oversee the Project’s development. Mr. John Mclnerney is the GM of the manager company.
Mr. Mclnerney has been working in real estate banking and development industry for over thirty years. His most recent position with a real estate developer was as Senior Vice President for Chatham Development Company (“CDC”), a multi-generational, family owned and operated real estate development company, with focus on residential and mixed-use properties in New York City and Long Island. Mr. McInerney has been in charge of reviewing, recommending and approving new acquisition sites and projects for development; Coordinate debt/equity contributions from institutional and private sources of capital; Oversight of the due diligence and closing documentation related to development projects.
The project will be developed in cooperation with the following professionals:
Architect and Engineering Designs – Raymond Chan Architect PC
Raymond Chan Architect was formed by Mr. Raymond Chan in 2002. He is licensed to practice architecture in New York, New Jersey, Maryland and Pennsylvania. Over the years, he has built numerous multi‐story and mid‐rise buildings including commercial, residence, mixed‐use, and hotels. Raymond Chan has won many design awards including design of the “China Buddhist Center” to jazzy “Beama Grill” in Manhattan. The commercial projects which have won design awards include “Asia Bank Loan Center”, “Asia Plaza”, “Queens Office Tower” and “New York Eye Center” among many others.
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 New York City.
Total project investment
EB-5 Loan (Group 5)
EB-5 Loan (Group 6)
The jobs that will be created during the construction process through expenditures. The Project shall satisfy the job creation requirements for all EB-5 investors. Econometric analysis by Dr. Michael Evans calculates that 166 jobs will be created, including jobs created indirectly. The total new jobs that will be created exceed the required 140 jobs for the 14 EB-5 investors (6 from ARCFE Group 5, LLC and 8 from ARCFE Group 6, LLC).
Required Jobs to be Created
Expected Jobs Created
ARCFE-the most professional investment immigration regional center in Greater New York
As a regional center designated by the U.S. Immigration Service, the U.S. Entrepreneurship Regional Center is the most professional investment immigration regional center in Greater New York. It has successfully operated 10 real estate development EB-5 investment immigration projects and obtained immigration qualifications for hundreds of high-net-worth clients. Committed to becoming a full-service provider for Chinese high-net-worth individuals emigrating to the United States, through dedicated, efficient, sophisticated, and orderly professional services, it opens an extraordinary journey for many high-end individuals who have the need to emigrate overseas to realize the American dream.
Lions Group NYC, a well-known local developer in New York
As one of the most outstanding developers in New York, Lions Group NYC has more than 30 years of experience in real estate development, focusing on the acquisition, development, construction and property management of high-end apartments and commercial properties in the greater New York area. Development properties are concentrated in the Greater New York area and the North Shore of Long Island, which enjoys the reputation of “Gold Coast”. A number of apartment projects have been successfully developed in Long Island City. The total market value of the development project exceeds 500 million US dollars, and it owns and operates more than 500,000 square feet of luxury apartments. Lions Group NYC has a professional development team that pursues customer satisfaction every bit.
Golden location, unlimited business prospects
The New York City Government fully supports the development and reconstruction of Long Island City. This project has an excellent location and is one of the most active real estate markets in New York City. Housing prices continue to grow and are favored by artists and white-collar professionals. Elegant environment (Longmen Plaza State Park and Hunter Point Park are adjacent to the East River), convenient transportation, and complete facilities. Adjacent to the newly built Gotham Office and Commercial Center, Gotham Center, it is expected to accommodate 150,000 people in the office, and the business prospects are unlimited.
The employment surplus was 18.6%, satisfying the employment creation conditions of the USCIS
The employment report was written by Dr. Michael Evans, an authoritative American economist, using the RIMS II model to objectively evaluate the data in the financial and business plans. This project will create 166 permanent new job opportunities, meet the requirements of the USCIS for 140 job opportunities, and the employment surplus rate will reach 18.6%, ensuring that investors get green card opportunities.
EB-5 innovative equity investment model & experienced project management team
This project has experienced Wall Street investment management and EB-5 investment immigration lawyers to form a first-class project management team, carefully designed the investment and financing management model for this project, and in the fifth phase of the project, innovatively designed EB-5 funds for equity investment. Investors dispense with intermediate links and directly participate in the development of the project to achieve a higher rate of return on investment. Expected return for EB-5 equity investors: 12%.
Great evaluation value & clear exit mechanism
Long Island City is currently one of the most active real estate markets in New York City. The influx of funds is surging and the potential for real estate appreciation in the future is huge.