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New York & Tri-State  + Midtown New York  + Finance  | 

Soloviev to Offer NYC Residents Equity Stake in Proposed Midtown Casino

The Soloviev Group, in partnership with Mohegan, will offer eligible local residents an opportunity to become stakeholders in the proposed casino within the $11.2-billion Freedom Plaza project near the United Nations Secretariat in Midtown Manhattan. Up to 12% of any initial public equity raised for the proposed gaming facility will be designated for residents of New York City, provided the Soloviev/Mohegan partnership is awarded one of three downstate casino licenses for which bidding is expected to begin next month.

Soloviev and Mohegan also intend to provide investment allocations to eligible New York state and city employee-related pension funds. If Soloviev and Mohegan are awarded a gaming license, the capital raise would begin no earlier than 2027.

“Soloviev, in partnership with Mohegan, is committed to fostering prosperous long-term relationships with residents, community organizations, and businesses both locally and throughout New York,” said Michael Hershman, CEO of the Soloviev Group. “Our visionary Freedom Plaza project exemplifies these goals.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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