Crowdfunding platform Fundrise is marketing some of the tax-free bonds used to finance Silverstein Properties’ 3 World Trade Center.
The website, which counts top Silverstein executives among its key investors, is offering up the chance to invest in a $2 million share of the 80-story skyscraper’s most senior debt, according to Capital New York. Fundrise is not directly re-selling the debt, according to the website, but is offering a chance to invest in a trust that holds the debt.
Silverstein sold the tax-free Liberty Bonds in October for roughly $1 billion of the building’s financing at an initial annual return of 5 percent.
Fundrise raised $31 million in May, as TRD reported. Silverstein’s chief executive Martin Burger and president Tal Kerret were among the investors. [Capital NY] — Claire Moses