ARCFE Group A LLC provided financing for construction of two residential condo buildings located in Long Island City, Queens, New York. The project includes two 6-storey condo buildings, Murray Park North and Murray Park South. Murray Park North has a total of 41,522 buildable square feet. Murray Park South has a total buildable area of 31,666 square feet. The project is expected to create 190 indirect jobs, and has raised $8 million from 16 EB-5 investors. I-526 Approved
ARCFE Group A will provide $8 million in loan. After project completion, condo units will be sold to repay senior bank loan and EB-5 loan (total of $18 million).
Total project investment
$8,000,000 (31%) – Land costs and other upfront soft cost)
$10,000,000 (38%) – Used for Murray Park North construction
$8,000,000 (31%) – Used for Murray Park South construction
Required jobs to be created
Expected jobs created
In this project, EB-5 funds have the first-order mortgage. The north building of the project has been handed over and the south building was completed in May 2017. All investments are fully recovered to ensure the investment safety of investors.
This project is located in a strategic location and is a prime location in New York City that strongly supports reconstruction and development. It has good commercial prospects and great potential for appreciation.
No offer to sell any security is made by this website. The information on this web site is not an offer to sell or solicitation of an offer to buy an interest in any investment or for the provision of any investment management or advisory services. Any such offer or solicitation will be pursuant to exemptions from registration requirements set out in applicable securities laws and made only by means of delivery of a confidential private offering memorandum relating to a particular investment to qualified investors in those jurisdictions where permitted by law.