Chinese bank takes majority stake in Aby Rosen’s 100 E. 53rd

China Cinda takes 65 pct for $140.5M

TRD New York /
Mar.March 17, 2015 08:05 AM

UPDATED, March 17, 1:55 p.m.: Chinese bank China Cinda paid $140.5 million for a majority stake in a condo project being developed by Hines and Aby Rosen’s RFR Realty.

China Cinda picked up a 65.1 percent stake, according to the New York Daily News, joining fellow Chinese real estate firm China Vanke, which bought a stake in the project last year.

Construction started last year on the building, dubbed 100 East 53rd Street. The alternative address, listed on the permits, Is 610 Lexington Avenue. Compass has been tapped to handle sales for the project.

Cinda is one of four banks specifically formed by China’s Ministry of Finance to take the bad debt from government-formed banks off of their hands.

Yesterday, The Real Deal reported that offshore hotel investments in New York City are expected to reach $3 billion this year. [NYDN] — Tess Hofmann

Correction: An earlier version of this story incorrectly stated that the project will have a hotel component. 

 

Related Articles

arrow_forward_ios
From left: Michael Fuchs, Aby Rosen, Brandon Singer and Michael Cody (Getty, iStock)

Aby Rosen, Michael Fuchs back new retail brokerage

Aby Rosen, Michael Fuchs back new retail brokerage
RFR Realty's Aby Rosen and 522 Fifth Avenue (Getty; Google Maps)

Aby Rosen buys Midtown office building for $350M

Aby Rosen buys Midtown office building for $350M
Jeff Bezos (Getty)

Here are the landlords benefiting from Amazon’s tech workforce expansion

Here are the landlords benefiting from Amazon’s tech workforce expansion
Gerald Hines

Gerald Hines, developer who changed Houston’s skyline, dies at 95

Gerald Hines, developer who changed Houston’s skyline, dies at 95
Joseph Nakash, Aby Rosen and W South Beach (Getty, Google Maps)

Aby Rosen’s RFR, Nakash family battle over failed sale of W South Beach condos

Aby Rosen’s RFR, Nakash family battle over failed sale of W South Beach condos
 60 East 55th Street and RFR Realty's Aby Rosen (Getty Images, Google Maps)

RFR’s Core Club condo at Midtown tower heads to special servicing

RFR’s Core Club condo at Midtown tower heads to special servicing
Aby Rosen of RFR Realty and the Chrysler Building (Getty; iStock)

Aby Rosen is bringing back the Chrysler Building’s observation deck

Aby Rosen is bringing back the Chrysler Building’s observation deck
SL Green CEO Marc Holliday, One Madison Avenue and Hines Group CEO Jeffrey Hines (SL Green; Hines via Sanjeev Verma/Hindustan Times via Getty Images)

SL Green sells half of One Madison to Hines, NPS of Korea

SL Green sells half of One Madison to Hines, NPS of Korea
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...