3 Hudson Boulevard Seeks EB-5 Investors

Rendering of 3 Hudson Boulevard/ Photo credit: FXFOWLE

NEW YORK CITY—New York Governor Andrew Cuomo and developer Joseph Moinian launched the official ground breaking of the Moinian Group’s two-billion-dollar, 53-story, two-million-square-foot office tower, 3 Hudson Boulevard.

With the infrastructure work on the 34th Street 7 train station complete, the tower construction, on top of one of the subway entrances, can begin.

“The groundbreaking of 3 Hudson Boulevard is another significant step in developing the Hudson Yards District and attracting new businesses and investments to the Far West Side of Manhattan,” Governor Cuomo said. “The Moinian Group’s investments in the state-of-the-art tower will support New York’s construction workers, and provide space for future tenants, as we continue supporting the economic development of the entire region.”

At Friday’s ceremony, Moinian said he’s in the midst of the paperwork involved in arranging for EB-5 investors, who may come from China or India. He is working on attracting $250 million to $500 million through the program. However, he notes his company is at the beginning of the process and does not have a number of EB-5 investors committed.