Funding

Funding Needed
$1.3 (Mio)
EB5 Funding
$1 (Mio)
EB-5 Investors
2
Investment Amount
$500,000
Subscription Fee
25,000
Discount Fee
25,000

Jobs

Job Creation per Investor
18.0
Job Creation (Total)
36
Category
Accommodation and Food Services
Sub-Category
Chain Full-Service Restaurants

Investment

Structure
Equity
Expected Return
2% net of all fees and expenses
Principal equity in project?
Yes

Immigration

Does this project have approved I-526's?
No
Does this Regional Center have approved I-526's?
No
Does this Regional Center have approved I-829's?
No

Location

State
New York
Location
240 Lafayette Street, New York, NY 10012

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Deepa RamchandranDavid Selinger

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by Chloe - Lafayette Street


Project Description

The NCE was established to develop, build out, launch, and operate a new chef-driven fast casual vegan restaurant under the “by CHLOE.” brand at 240 Lafayette Street, New York, NY 10012 (“the Restaurant”).

The cost to build out, equip, and open the Restaurant is estimated at approximately $1.3 million. The NCE anticipates two EB-5 investor Class B members will make qualifying equity contributions of $500,000 each. The Restaurant is located within a Targeted Employment Area designated by the New York State Department of Labor, effective February 2016. The NCE Managing Member is providing bridge financing for EB-5 investment and the additional equity needed to fully fund the Restaurant.

Project Timeline

The NCE leased the Restaurant site in December 2015, began tenant improvements in August 2016, and is on schedule to open the Restaurant in December 2016.


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