Kuafu Acquires More New York Real Estate

Kuafu Properties, the New York-based developer owned by China-based investors now owns the rights to more than one million square feet of New York real estate, less than one year after entering the US market.

The latest addition to the fledgling Chinese developer’s portfolio is 1 MiMA Tower, a condo complex composed of the top 13 floors of Related Companies’ MiMA building on Manhattan’s 42nd Street, which Kuafu purchased from the US developer for $260 million, according to a statement from Kuafu this week.

The acquisition is Kuafu’s third since July last year, and its second in less than a month as Chinese investment in New York real estate continues to accelerate. Despite rapidly rising prices, investors from mainland China continue to be drawn to mature assets and development projects in America’s commercial capital.

WEB'S BEST

Top stories from across the globe

  • Singapore Stresses Under a Wealth of Worries
  • A Short History of Investing in Gold – and What to Expect for 2017
  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.