NEW YORK CITY—In what could be a unique twist on real estate crowdfunding, the platform Fundrise has launched an investment opportunity for 3 World Trade Center.
Individual accredited investors can get a stake in the tower for a minimum of $5,000 and are projected to receive a 5% percent, tax-free gross annual return on their projected five-year investment. The initial offering is $2 million, with up to $5 million available for individual investment through Fundrise. Though the Silverstein Properties tower is not yet built, the project already is fully financed, turning this offering into a chance for crowdfunders to buy into a building's future. Silverstein representatives and crowdfunding analysts did not respond to GlobeSt.com's request for comment by press time.
“Our goal has always been to expand access to quality real estate, and we think the 3 World Trade Center investment offering is proof of the power of crowdfunding at work,” says Dan Miller, co-founder and president of Fundrise. “We are proud to be able to give more people a chance to invest in this important, iconic asset.”
3 World Trade Center will be the third-tallest building on the World Trade Center site, and will include 2.5 million square feet of rentable office space.
Silverstein Properties, the sponsor of 3 World Trade Center along with 7 World Trade Center, 4 World Trade Center and 2 World Trade Center, is an internationally-respected real estate development, management and investment firm that is spearheading the continued revitalization of Lower Manhattan. Silverstein has developed, owned and managed more than 35 million square feet of office, residential, and retail space throughout the United States.
“We are excited to continue to add to the high-quality investments on our platform with the 3 World Trade Center offering,” says Ben Miller, co-founder and CEO of Fundrise. “The Fundrise platform leverages the efficiency of the Internet and the power of the crowd to originate and finance real estate.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
