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Deals & Dealmakers

Moinian lands $350M EB-5 deal for 3 Hudson Boulevard

The Moinian Group announced that it has selected George Washington Immigration Group, LLC as its EB-5 Regional Center to provide between $250 million and $350 million in EB-5 funding for the developer’s 3 Hudson Boulevard.

Moinian’s 53-story, 2 million-square-foot office tower — located in the heart of the Hudson Yards District — officially broke ground at the end of 2017, and is scheduled for delivery by 2021.

The total cost of the state-of-the-art project is more than $2 billion. The project is being funded through Moinian Group equity and EB-5 participants.

“George Washington Immigration Group is a first-class organization with team members who have a tremendous track record in the EB-5 industry,” said Moinian Group chief executive officer Joseph Moinian.

“Construction of 3 Hudson Boulevard is already underway. We are excited to bring this elegant tower to completion, becoming a permanent fixture of the Far West Side and the New York City skyline.”

“We are proud to be a part of this fantastic Hudson Yards District development,” said Evan Stoopler, Managing Partner and Founder of George Washington Immigration Group.

His partner, Steven Anapoell, is recognized in the EB-5 industry, having designed, structured, and helped implement some of the largest EB-5 financings in the United States, including Hudson Yards for the Related Companies and 30 Park Place for Silverstein Properties.

Anapoell’s other New York projects include the International Gem Tower for Extell Development and Liberty Gardens for The Lightstone Group.

Designed by architect Dan Kaplan of FXFOWLE, and set to occupy the entire square block between 11th Avenue and Hudson Boulevard Park from West 34th Street to West 35th Street, 3 Hudson Boulevard’s foundation sits on the densest bedrock in Manhattan, requiring no platform.

The site is intertwined underground with the No. 7 subway extension, which provides further accessibility to the entire area.

Moinian is able to proceed with construction of 3 Hudson Boulevard now that the MTA has completed its infrastructure work for the second entrance to the 34th Street Station on the new No. 7 subway extension.

At street level, a multi-tiered lobby provides access from both the East and West, and has a 12,600 s/f retail space with numerous entrances.

At the podium, 50,000 s/f office floorplates offer spans of 90 feet or more with 18 feet floor-to-floor allowing for 13 foot clear ceiling heights.

The 40,000 s/f tower office floors include spans of 40 feet or more and 15 feet in height allowing for 10 foot ceiling heights, five-foot window modules and column-free corners.

The floor-to-ceiling glass maximizes views and a duplex rooftop entertainment space, outdoor terrace and sky garden crowns the tower.

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