LEGION INVESTMENT GROUP LLC
EB-5 NORTHEAST RC LLC
$50.4M
FIRST POSITION EQUITY PLEDGE
550 West Chelsea Residences NYC
The Site is one of the last waterfront development opportunities of scale in all of Downtown. In fact, over the next cycle, Corcoran is estimating a “75% reduction in new supply to market – especially quality, larger-scale, highly-amenitized offerings. The circumstances are most favorable to develop a project that is timeless and has broad appeal.”
Standing 250’ tall, the condo will offer direct, protected Hudson River views from majority of the units starting on the 6th floor. The Project will also enjoy sweeping views of the Midtown skyline to the East over the High Line.
Highlights
- Prime West Chelsea location with direct access to scenic waterfront views
- Significant sponsor equity commitment, aligning interests with EB-5 investors
- Clear exit strategy through condo sales in a high-demand Manhattan’s real estate market
Project Summary
Located in one of Manhattan’s most desirable neighborhoods, this condominium project is positioned to benefit from strong housing demand and offers EB-5 investors a robust financial structure with sufficient job creation and a market-based exit.
Explore project details
Located in one of Manhattan’s most desirable neighborhoods, this condominium project is positioned to benefit from strong housing demand and offers EB-5 investors a robust financial structure with sufficient job creation and a market-based exit.
EXPLORE PROJECT DETAILS
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The project listing is for informational purposes only and is NOT intended to be a solicitation or inducement to invest. Investment opportunities reflected on this website may only be a available for certain investors.
The project listing is for informational purposes only and is NOT intended to be a solicitation or inducement to invest. Investment opportunities reflected on this website may only be a available for certain investors.
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Total Project Costs
$332500000
Equity
$127100000
Construction Loan
$155000000
Total Job Creation
1604
Number of Investors
63
Loan Term Years
4+1
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