ARCFE GROUP 4
ARCFE Group 4 LLC was formed on April 18, 2013 for the purpose of raising up to $16 million investment capital to a project permitted under the EB-5 Immigration Investor Program. The capital has been advanced in two parts: 1. Preferred Equity Investment of $3 MM to Dutch Kills Associates, LLC toward the construction of its 7-story 76 residential units condominium building with 45 parking spaces and located at 14-01/07/19 Broadway, Astoria, NY 11106 (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 with 34 residential units and 1 commercial unit 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. Mr. Albert Shirian and Ramin Shirian founded the Lions Group II in 1984. . Since then, they have been actively involving 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 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 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.
Mandarin Enterprises II Inc. was established by its sole Principal, Mr. David Lo, in 2006. The general contractor is licensed to do business in New York City. The firm has completed numerous multi-story and mid-rise commercial and residential buildings.
ARCFE Group 4 will provide $16 million in loan for construction of two buildings. After project completion, condo units will be sold torepaysenior bank loan and EB-5 loan.