ARCFE Group 13
In Progress38th Ave & Thomson
Long Island City, Queens, New York
I-956F
Approved
I-526E
Approved
The Project
About 38th Ave & Thomson.
AG13 Funding LLC was set up to raise EB-5 funds for two real estate development projects located in Long Island City: 38th Ave & Thomson. Each investor will contribute $800k in capital as both projects qualify for the new TEA definitions.
38th Ave: a 7 stories mixed-use building consisting of 7,706 sqft commercial space on the 1st and 2nd floor, 27 parking spaces, and 50 condos throughout the building. Its gross area is 74,042 sqft. The project is looking to raise $11.5M EB-5 funds in the form of Mezzanine Loan.
Thomson: a 9 stories mixed-use building consisting of 6,778 sqft retail space on cellar through the 2nd floor, along with 34 rental units from the 3rd to 9th floor. The gross floor area is 35,033 sqft. The project is looking to raise $4.5M EB-5 funds in the form of Mezzanine Loan.
Key Facts
- Location
- Long Island City, Queens, New York
- Targeted Employment Area
- Qualified for TEA
- Minimum Investment
- $800,000 USD
- EB-5 Raise
- $16M
- EB-5 Investors
- 32
- Developer
- ZD Jasper Realty (Thomson) and others
- Era
- RIA
Project Progress
Latest updates from the site.
Nov 2025
To date, the project has been fully completed and successfully received its Temporary Certificate of Occupancy (TCO) in August 2025.
The building is officially named “Studio 38”. Benefiting from its prime location and high-quality design, it has attracted significant tenant interest and is leasing robustly. Only four units currently remain available.
Learn More