This project is located at 27-17 42nd Road, Long Island City, NY 11101. It will feature a total of 182 luxury residential units, 32 automated parking spaces, and over 10,000 square feet of commercial space. Amenities include a gym, screening room, recreation lounge, and a rooftop outdoor lounge. The total area of the project is 221,880 square feet.
FIVE ADVANTAGES
LOW RISK
According to the economic report written by renowned American economist Michael Evans for Star Tower, the project is expected to create 671 jobs, which can indirectly support 67 EB-5 investor slots. To ensure that each investor generates at least 10 jobs, we will accept a maximum of 30 investors. This means each investor can create nearly 20 jobs, significantly exceeding the requirement of 10 jobs per investor and greatly minimizing the risk during the I-829 phase.
PRIME LOCATION
Long Island City in Queens, New York, is currently one of the most promising areas for development around New York. The project is just a five-minute drive from Manhattan's core. Several construction sites are underway in the area, and over the next few decades, there won’t be another region in New York with such strong development momentum.
SIGNIFICANT BENEFICIAL POLICY
This project is one of the few properties currently available for sale in the area, and it received the 421A 15-year tax exemption policy in 2015. This policy is no longer open for new applications, and new residential developments will not benefit from this incentive in the near future.
INVESTORS' INTERESTS ARE PROTECTED
If an investor has a conditional green card or their permanent green card application is denied, the project will refund the total investment amount along with management fees, totaling $550,000, thereby minimizing the financial risk for the investor.
SAFE & SECURE FUNDS
EB-5 funding makes up just 13% of the total investment. Before securing bank loans, the project underwent a thorough review and analysis of its economic indicators, which is quite rare among EB-5 projects. The timing of the EB-5 funding and the final number of EB-5 investors will not affect the funding process, ensuring that the project will continue, thus providing a high level of security for investors.