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May 25
What is the EB-5 visa program that is being touted to foreign investors?

The Brick Underground, a self-titled, "daily survival guide for buying, selling, renting and living in New York City" recently released an article about the EB-5 visa, and how it aids foreign investors in obtaining US citizenship. The program was initially created in 1990 as part of immigration legislation aimed to increase foreign investments in US properties, and to increase job growth. Our own principal, Edward Mermelstein explains that, "from a developer's perspective, the interest rate is quite favorable for EB-5 financing compared to hard money rates." Mr. Mermelstein and One & Only Realty have advised many clients on the benefits of EB-5 purchases, explaining the minutia of the requirements and assisting in the application process. The visa program was extended through September at the beginning of this month, but buyers and developers are concerned that will be the last extension for the EB-5 visa program. Mr. Mermelstein, however, has confidence in the program and says that, "it is very likely to be extended.” If you’re interested in learning more about the EB-5 visa and how it can be applied to your situation, please reach out to us, either by contacting us through our website, or by calling (212)-505-0200.

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