The Real Deal New York

Are these New York EB-5 projects dead or alive?

The New York Wheel, 3 Sutton Place and others are struggling through finance problems
By E.B. Solomont and Katherine Clarke | April 22, 2016 08:30AM


Kingsbridge Armory

From the April issue: EB-5 investors by definition live outside the U.S., sometimes thousands of miles away. But it ultimately falls on them to determine which real estate development projects in NYC (or elsewhere in America) are safest to put their cash in. That can be a tough task since developers are trying to woo them and present their projects in the best possible light.

While many EB-5 projects get successfully finished, there are plenty of exceptions. Read on for a closer look at four New York projects that are facing problems while courting EB-5 cash. [more]