Scrounging under the couch cushions for more capital funding, Gov. Andrew Cuomo and New Jersey Gov. Chris Christie may be among the politicians and bankers attending a private meeting in the coming week. The confab is focused on using EB-5 visas to fund infrastructure projects such as the Tappan Zee Bridge, sources said.
The program creates a quick route to citizenship for non-US investors and their immediate families if they agree to invest at least $500,000 in developments that create a minimum of 10 new jobs.
Construction jobs on infrastructure projects that last longer than two years, such the $3.9 billion Tappan Zee Bridge project, or those for workers on tunnels, highways and other transportation projects can also count.
“It’s a great idea and I know the governors have been energetically looking for funding for infrastructure, so this is good news,” said New York Building Congress President Richard T. Anderson, who was unaware of the meeting.
To get the money, an entity called a Regional Center is set up, which then funnels investors to projects.
The financing scheme is already popular among real estate developers, including Gary Barnett, Larry Silverstein, Douglas Durst and Bruce Ratner, who have used the program for additional financing as the interest rates are lower than what would be paid to banks, equity investors or mezzanine holders.
It’s still unclear if there is sufficient funding for the bridge as New York appeals a court ruling that removed Clean Water Act funds for the bridge, and future toll hikes were recently taken off the table.
Cuomo’s office said it knew nothing of the meeting, while Christie’s rep didn’t return an e-mail seeking comment.
The addictive Web site BuzzFeed, which counts among its stories both cute animal and stupid people tricks, is already seeking to quadruple its reporting capabilities.
Last year, we told you it was moving to a 57,691-square-foot two-year sublease from Tiffany at 200 Fifth Ave., knowing it would be bumped in the fall of 2015.
As search and furniture rescues take longer as office size increases, BuzzFeed is now buzzing for a future hive that could grow to more than 400,000 square feet.
But according to spies, to first take care of its immediate overflow needs, BuzzFeed has signed a 43,000-square-foot short-term sublease for the 6th floor from AppNexus at the nearby at 40 W. 23rd St., where that company has more than 200,000 feet on floors 2, 5 and 6 and will also need that space for future growth.
Mark Weiss and Rob Eisenberg of Newmark Grubb Knight Frank represent AppNexus while Andrew Roos and Michael Cohen of Colliers International rep the building, which has to approve the deal. None of them returned requests for comment.
In the meantime, BuzzFeed appears to be focused on negotiating for future space at a number of places, including the soon-to-be-renovated 225 Park Avenue South. A block of 472,602 square feet is now being marketed in a two-building complex known as the American Woolen Company Building. The space is being given up by the Port Authority as it is moving to 4 World Trade Center.
“We are always looking at expansion opportunities to match our recent growth,” teased a BuzzFeed spokeswoman, who would not confirm any of the deals or possible deals.
As we revealed in The Post Commercial Real Estate Special on April 24, among the more gorgeous features at 225 PAS will be a glass pavilion entrance to a roof deck on the 13th floor and another roof deck on top of that on the 14th floor.
A glass staircase will enable connections to the spacious low-rise floors while the tower floors have far-ranging views.
Shelly Fireman’s Florian is open while Morton’s Grille has also leased a space that is now under construction in the retail areas.
Midtown South is the healthiest submarket in the country with the lowest vacancy rates while strong demand from established TAMI — tech, advertising, media and Internet — companies has bumped area asking rents.
They are now north of $85 a square foot at this building, for instance.
Brian Waterman and Andrew Peretz of Newmark Grubb Knight Frank are representing the building. Company spokeswoman Mira Matic declined comment on behalf of the various brokers.
BuzzFeed’s broker, Steven Marvin of Olmstead Properties, has been working with the Web site since it was a tiny startup in a 3,500-square-foot office in the Olmstead building at 113 Spring and grew to 24,000 feet at its 54 W. 21st St. location. He also did not return a call for comment.
BuzzFeed’s media conglomerate is led by former HuffPo founders Kenneth Lerer and Jonah Peretti along with John Johnson and former Politico editor Ben Smith.
