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By CityRealty Staff | March 14, 2018 [caption id="attachment_25583" align="aligncenter" width="746"] 111 Murray Street via CityRealty[/caption] As the glass curtain wall of 111 Murray Street is completed, the newest addition to the Lower Manhattan skyline has reached an important milestone. Designer Kohn Pedersen Fox announced the news on Instagram along with a picture of a slender tower that flares outward as it rises 792 feet and 58 stories high. [caption id="attachment_25584" align="aligncenter" width="758"]111-murray-street-exterior-USIF Facade detail via Field Condition[/caption] The building is well on track for move-ins to take place this spring as anticipated, and it’s lucky that that’s the case: Sales of the 157 apartments got off to a robust start. Available listings range from $4.3 million for a 2-bedroom, 2.5-bath to $18.9 million for a half-floor 5-bedroom, 6.5-bath. All homes have floor-to-ceiling windows overlooking stunning river and skyline views, interiors by AD100 designer David Mann, and utility closet with washer and vented dryer. Custom Molteni kitchens are outfitted with marble island, cerused white oak cabinetry, and top-of-the-line appliances. Master suites have walk-in closet and bath with radiant heated floors, marble slab double vanity, and freestanding tub. All secondary bedrooms have en-suite baths. [caption id="attachment_25585" align="aligncenter" width="491"]111-murray-street-construction-progress-USIF 111 Murray Street circa February 2018 via Field Condition[/caption]   [caption id="attachment_25586" align="aligncenter" width="491"]111-murray-street-construction-progress-USIF-2 111 Murray Street circa February 2018 via Field Condition[/caption] Just in case the design, views, and apartments of 111 Murray Street aren’t awe-inspiring enough, it is home to over 20,000 square feet of amenities. A wellness suite has a fitness center, movement studio, lap pools, hammam, steam room, and sauna. However, residents needn’t worry about messing up their hair in there – the building has the city’s first private Drybar salon. Additional amenities include landscaped gardens, lounge, private dining room with demonstration kitchen, patisserie, media room, children’s playroom, and teen lounge.
The Charles, a U.S. Immigration Fund project, is a luxury residential high-rise located in the Upper East Side of Manhattan. Recent images showcase the the floor-to-ceiling windows for the 31 residences, many of which are four-bedroom, four-bathroom units. [caption id="attachment_25565" align="aligncenter" width="624"]The Charles- USIF The Charles, image via Evan Joseph Photography[/caption]   March 15, 2018 | By Marcus Mitanis A suite of images showcase the spacious and contemporary interiors of a newly built boutique condominium located in Manhattan's Upper East Side. With only 31 residences accounted for in The Charles, each full-floor unit has plenty of room to breathe, with oversized windows letting in an abundance of natural light. [caption id="attachment_25573" align="aligncenter" width="672"] Interiors are gifted with expansive windows, image via Evan Joseph Photography[/caption] [caption id="attachment_25574" align="aligncenter" width="666"] Inside a full-floor suite, image via Evan Joseph Photography[/caption] The sprawling collection of four-bedroom, four-bath residences designed by European interior architect David Collins benefit from individual elevator foyers and service entrances. Units offer over 3,000 square feet of space and are equipped with high ceilings, white oak flooring, Glacier White polished Corian countertops, and stainless steel appliances. To catch the best views of the Manhattan skyline, every unit has a 'great room' that features an open layout and floor-to-ceiling windows. [caption id="attachment_25575" align="aligncenter" width="708"] Looking towards the East River and Roosevelt Island, image via Evan Joseph Photography[/caption] Common areas include a children's playroom, state-of-the-art fitness center, and private refrigerated storage for each residence. Designed by Ismael Leyva Architects for Bluerock Real Estate, the glass and limestone project embraces the neighborhood’s mid-rise vernacular with its gridded podium, then shoots skyward with a modern glass-clad high-rise.    
EB-5 visas are sought by HNIs seeking permanent residency in US Romita Majumdar | Mumbai | February 28 us-immigration-fund America’s leading EB-5 Regional Center, US Immigration Fund (USIF), is encouraging Indians to apply for their EB-5 visas as early as possible given a possible change to the EB-5 program later this year and a tightening of other visa categories.

 “The requirements to be a qualified investor include one million dollars of net worth and a legitimate source of funds for the principal investment. The EB-5 Program could be expected to receive significant legislative changes by March 23, 2018. Now is the time to invest at the lower investment amount,” said Andrew Graves, the head of USIF’s India Operations.

 The US Congress created the EB-5 Program in 1990 to enable high net worth foreign investors to obtain a US visa for the investor and their immediate family by investing a minimum of $500,000 (Rs 32.6 million) in a US business that will benefit the economy by creating a minimum of 10 permanent US jobs.

 EB-5 has been under congressional review in the US and the investment amounts are expected to increase. According to the National Law review (US), there is a proposal to increase the minimum investment amount to $925,000 for projects in the new definition of targeted employment areas and increase all other projects by another $25,000 to more than $1 million.

 The EB-5 visa enables students and families to acquire a permanent US Green Card in a shorter time than H1-B, EB 1A/B/C, EB-2, and EB-3visa holders. In addition, the EB-5 visa allows students and immediate family members to obtain conditional US residency within 16-18 months, which can potentially give them access to lower in-state tuition rates and higher acceptance rates for prominent universities around the country.

 An immigration analyst, who did not wish to be quoted, said that even as Indian professionals aiming to work in US struggle to make sense of H1B regulations, it is highly unlikely that they will go for EB5 visas instead as the minimum investment amount itself is unaffordable for most applicants and it remains a preserve of high net worth individuals (HNIs).

 Shan Chopra, Managing Partner of The Chopras Group and partner of USIF notes, “A large number of our initial clients have done this purely to obtain access to the United States, not necessarily to migrate to the U.S."

 The EB-5 Program was seldom used until the global financial crisis in 2008-09 where many real estate developers looked for alternative sources of cheaper capital. Per USCIS data, Indian EB-5 visa applicants have consistently increased in recent years with 174 petitions filed in 2017, a 57 per cent increase from 2015.

 USIF plays a key role in the EB-5 process. The investment firm pools EB-5 capital from individuals and invests the pooled capital in highly qualified EB-5 projects in real estate with leading developers from New York City, New Jersey, California and Florida.

“EB5 applicants may include those settled in Middle east or students of wealthy Indians’ (parents) who do not wish to come back to India post studies or in some cases, IT professionals who are not able to get extension on their H-1 or L-1 applications,” said Ajay Sharma, President Abhinav Outsourcing, a visa consultancy firm. He added that while the program has been receiving lots of coverage since last one year, fact is that high interest from India is not getting converted into higher number of filed EB5 applications.

 USIF holds the exclusive rights for raising and investing EB-5 capital for several large-scale residential and commercial real estate projects. USIF’s 24 EB-5 projects will total roughly 18,000 EB-5 green cards arising from 6,000 investors and their families, numbers unmatched within the EB-5 industry.

 The number of USIF Indian investors quadrupled from 2016 to 2017 and the number of investors in 2018 is expected to increase to more than 200 given that the investment amount does not change said USIF .