Silverstein transferred EB-5 funds from 2 WTC to Macklowe s 1 Wall Street Developer上海千花网龙凤论坛 had secured $2.2B loan from sovereign wealth fund – then Murdoch backed out
From left: Marty Burger, a rendering of 2 World Trade Center (credit: DBOX), a rendering of One Wall Street and Harry Macklowe
When Rupert Murdoch ditched 2 World Trade Center, it threw the project s future into doubt. But it looks like there was at least one winner to emerge from the turmoil: Harry Macklowe.
Silverstein Properties had raised roughly $70 million in E上海千花网交友 B-5 financing when Murdoch decided against moving his two companies — News Corp. and 21st Century Fox — into the building. Instead, Silverstein won approval from most of the EB-5 investors to transfer their contracts to Macklowe for his $1.5 billion office-to-residential conversion on One Wall Street, Silverstein CE阿拉爱上海同城 O Marty Burger said during a panel at an annual NYU conference on Thursday.
Silverstein had aimed to raise a total of $500 million in EB-5 funds for the 2.8 million-square-foot project, meaning that some 1,000 investors would eac上海千花社区 h have to contribute the permitted $500,000.
Murdoch s pullback also scuttled one of this cycle s largest constr爱上海龙凤419桑拿 uction loans. Silverstein Properties had won a commitment for a $2.2 billion loan from an unnamed soverign wealth fund. But without an anchor tenant, that loan fell apart and the project s future remains in limbo.
In June 2015, Murdoch s News Corp. and 21st Century Fox sign[……]