Chinese affiliate buys Brickell site for $74.7M

A Beijing company purchased a Brickell development site for $74.7 million in cash.

An affiliate of China City Construction and New York-based American Da Tang Group reportedly bought the 2.39-acre construction site at 1430 South Miami Avenue.

A recent change in immigration restrictions allows some Chinese to apply for 10-year visas, the Daily Business Review reported.

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“Miami is a very beautiful city, and the economy is really impressive,” Dr. Shanjie Li, chief executive of American Da Tang Group, told the DBR in a translated interview from New York. “The way it’s developing; it’s almost like the coastal cities in China.”

The property’s former owners, Aventura-based Cabi developers, previously held up the sale of the property as part of a Chapter 11 bankruptcy restructuring. [Daily Business Review] — Katherine Kallergis

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Chinese affiliate buys Brickell site for $74.7M

A Beijing company purchased a Brickell development site for $74.7 million in cash.

An affiliate of China City Construction and New York-based American Da Tang Group reportedly bought the 2.39-acre construction site at 1430 South Miami Avenue.

A recent change in immigration restrictions allows some Chinese to apply for 10-year visas, the Daily Business Review reported.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

“Miami is a very beautiful city, and the economy is really impressive,” Dr. Shanjie Li, chief executive of American Da Tang Group, told the DBR in a translated interview from New York. “The way it’s developing; it’s almost like the coastal cities in China.”

The property’s former owners, Aventura-based Cabi developers, previously held up the sale of the property as part of a Chapter 11 bankruptcy restructuring. [Daily Business Review] — Katherine Kallergis

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