Chinese developer’s Williamsburg condos hit the market

Residential building at 429 Kent is Xinyuan's first ground-up project in U.S.

Offerings at the first ground-up residential project by the U.S. branch of Chinese developer Xinyuan Real Estate Company are now up for grabs.

The Oosten development, which will occupy a full block between Williamsburg’s Kent and Wythe avenues and South 8th and South 9th streets, is slated to hold a total of 216 condominium units starting at $710,000. The property, which has an address of 429 Kent Avenue, is offering up a mix of seven different kinds of apartments: townhouses, duplexes, one-, two- and three-bedrooms, lofts and duplex penthouses.

The property is being developed by Xinyuan’s U.S. arm, XIN Development Group, and is designed by Dutch architect Piet Boon.

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Halstead Property’s Robert Lynn and Shelley Wasserman are marketing the units, a handful of which are already in contract, including a $710,000 one-bedroom and a $1.53 million two-bedroom. The development is slated for completion in 2016.

Xinyuan purchased the two-acre development site for $54.2 million in 2012 in a deal that marked the first of its kind by a Chinese firm in the U.S. [Curbed]Julie Strickland