Funding Needed
$131 (Mio)
EB5 Funding
$40 (Mio)
Amount Subscribed
$131 (Mio)
EB-5 Investors
Investment Amount
Subscription Fee


Job Creation per Investor
Job Creation (Total)
Accommodation and Food Services
Hotels (except Casino Hotels) and Motels


Amount of EB-5 investors anticipated for this phase?
Expected Maturity
5 years
Principal equity in project?


Does this project have approved I-526's?
Does this Regional Center have approved I-526's?
Does this Regional Center have approved I-829's?


New York
213 Pearl Street, New York, NY

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Margarita Friedman


Lam GroupMona  Shah

Last Update: March 08, 2016 09:17 AM

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Lam Group 213 Pearl Street

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Opened: November 01, 2013

Closed: June 30, 2017

Funded: 100.0%

Developer Name
Lam Group/Lam's Golden Pearl Hotel Plaza LLC

Project Description

Lam’s Golden Pearl Hotel Plaza LLC, a Lam Group company (the “Lam Group”), is developing a three-hotel project located at the corner of Pearl Street and Platt Street in Manhattan, New York, which we call the “Pearl Street Plaza Hotel Project”. The project comprises of three hotels: (1) Four Points by Sheraton; (2) Courtyard by Marriott; and (3) Residence Inn by Marriott. The first hotel commenced construction beginning in 2012 (“Phase I”). The second and third hotels, which will be housed within one building, will commence construction in the beginning of fourth quarter 2013 (“Phase II” or “Pearl Street Hotel” or “Project”). Phase II is the project that Lam Group, through its regional center, is presenting for EB-5 investment. EB-5 Investor will invest into Pearl Street Investors Fund, LP (the “Partnership”), as limited partner, with Lam NYC EB-5 Fund Regional Center LLC (the “Regional Center” or “LAM EB-5”) acting as the general partner. The Partnership, through funds raised from EB-5 Investors, will make a loan to the developer to fund, along with developer’s cash and a construction loan, the development costs. The investment is structured as a loan and will be paid off within 5 years. 

Phase II Project Description: Courtyard and Residence by Marriott Financial District; 320 Guest Rooms (including Penthouse Suite); 44 Stories; 166,000 SF

Owner Investment:                     $  31.0 million

Construction Loan:                      $  60.0 million

EB-5 Loan:                                   $  40.0 million

Total Budget:                              $131.0 million

Jobs Created by Project:             1030 jobs

EB-5 Investment Sought:             $40 million (80 units)

Total jobs required for EB-5:      800 jobs


 Investment Highlights:                

  • $500,000 Investment
  • No Money at Risk without Temporary Visa – Escrow
  • Project to Start Without Delay
  • Permanent Visa Approval More Likely
  • Investment is Less Risky – Loan
  • Low EB-5 Capital to Total Budget
  • Premium Location

Project Timeline

Construction Start: November 2013
Hotel Opening Date: Fall 2017
EB-5 Loan Payoff: 5-year Loan

Securities Disclaimer

This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.