New York City Regional Center FAQs
Who may make an investment?
As indicated above, please note that any offer of securities by the New York City Regional Center or related entities will be directed only to countries other than the United States. However, if you are currently residing in the United States and are interested in learning more about the NYCRC and the EB-5 program, please contact us, fill in the relevant information, and we will get in touch with you.
Is the New York City Regional Center (NYCRC) an approved regional center?
Yes. The NYCRC received full approval and designation from the Department of Homeland Security and the United States Citizenship and Immigration Services (“USCIS”) on October 30, 2008. The USCIS has also approved the NYCRC’s job creation methodology. (Click here to download the NYCRC Approval Letter)
What areas make up the NYCRC?
The NYCRC encompasses all of the boroughs of Manhattan, Brooklyn, Queens, and the Bronx. These boroughs are sometimes referred to by their corresponding county names. For example, Manhattan is New York County, Brooklyn is Kings County, Queens is Queens County and the Bronx is Bronx County.
What types of real estate projects will the NYCRC invest in?
The NYCRC will target investments in a diversified portfolio of real estate projects such as:
- Office Buildings – these are buildings developed for general office use. New York City is one of the largest office building markets in the world, and the opportunities for office development, rehabilitation, and upgrading are unsurpassed anywhere else in the world.
- Civic Buildings – these are buildings developed for governmental or public use, such as schools, community centers, transit centers, courthouses, etc.
- Retail Stores – these buildings can be free standing or within a larger development project.
- Hotels – these buildings can be free standing or within a larger development project. Often a hotel development project will include restaurant, retail, and residential components as well.
- Restaurants – these buildings can be free standing or within a larger development project which often include a hotel.
- Light Industrial and Warehouses – throughout New York City, older and functionally obsolete manufacturing buildings are being rehabilitated and retrofitted with modern electrical, high speed communications, and environmental systems that are more compatible with 21st century needs and requirements. New York City is at the forefront of this rehabilitation effort and many such projects are available throughout the city.
- Mixed-Use (commercial and residential) – these buildings often include some combination of those listed above. For example, a hotel, restaurant and residential apartments may all be included in one mixed-use development project.
Will the NYCRC pool multiple investors together for each project?
Yes. By pooling investors together, the NYCRC will allow investments in larger real estate projects that create more jobs.
Who runs the NYCRC?
The NYCRC is overseen by professionals with backgrounds in real estate, urban planning, government, and the law. Three of its principals are attorneys with experience in areas such as immigration, real estate, and administrative law. (See bios of NYCRC Principals.) The NYCRC also works in conjunction with top outside professionals including:
- Citibank (escrow agent)
- D’Agostino, Levine, Landesman & Lederman, LLP (Loan Counsel)
- Eilenberg & Krause, LLP (Corporate & Securities Counsel)
- Miller Mayer, LLP (immigration counsel)
- Frendel Brown & Weissman, LLP (accountant)
- Evans, Carroll & Associates (economist)
What are the benefits of investing in the New York City Regional Center?
- Invest in one of the most dynamic and largest real estate markets in the world
- Invest in projects developed by New York City government agencies, economic development non-profits, and top real estate firms
- Invest in real estate projects selected because they will create a significant number of new jobs
- Our team of professionals will assist you in the application process
- Minimum investment is only US$500,000 (rather than US$1,000,000) because most investment projects will be located in an approved Targeted Employment Area
- You can satisfy job creation requirements by counting both direct and indirect jobs
- Our job creation methodology has been approved by the USCIS
- Your US$500,000 investment will be held in a protected escrow account at Citibank until approval of your application
- If your application is rejected, your US$500,000 investment will be released from the escrow account and returned to you
- You will invest alongside other individuals, thereby investing in larger projects that create jobs
Will the NYCRC assist me in obtaining my Green Card?
Yes. Though your own attorney will oversee and coordinate the application process, the NYCRC team of professionals will answer questions and provide assistance through the process.
How can I pursue a Green Card through the NYCRC?
Please contact our office by calling 212-619-1270 and speak with a member of our staff. You can also email us at email@example.com. We are happy to speak with you and will answer all of your questions. For further information on the application process through the NYCRC, please review our Obtaining Your Green Card: Step-by-Step.