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Kuafu Properties
Kuafu Properties is a privately held real estate development and investment company. Co-founded in 2013 by Zengliang Shan and Shang Dai, the firm markets itself as a bridge between Asian investors abroad and the U.S. real estate market. The firm was born out of the Hudson Yards development, where Kuafu had a hand in building the Hudson Rise hotel and condominium. The Hudson Yards project proved to be a bit troublesome for Kuafu, as it became deadlocked in a lawsuit with partner Siras Development over the plans and their respective roles in the tower. At the time Kuafu was dubbed by some publications as a mystery developer, but in the years since it has built up and down Manhattan, including East 86th Street and a mixed-use building at 1289 Lexington Avenue, taking advantage of the influx of Chinese investors. The firm has also built the MiMa condos on West 42nd Street, which focused on midpriced units instead of luxury, high-end units.
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09/07/17
...condo tower. At 151 East 86th Street, Ceruzzi and Kuafu Properties are developing an 18-story, 61-unit condo on a site they bought in 2014 (a year...
09/01/17
...hotel-and-condominium tower. At 151 East 86th Street, Ceruzzi and Kuafu Properties are developing an 18-story, 61-unit condo building on a leasehold they bought in 2013. Ceruzzi...
05/09/17
...Park Avenue and most recently Ceruzzi Properties and Kuafu Properties’ 18-story Upper East Side project at 151 East 86th Street.
Even major developers with long...
04/28/17
...million loan Mack Real Estate Group provided to Kuafu Properties, which acquired the six-building site at 143-161 East 60th Street between Lexington and Third...
04/10/17
...blocks away, a bitter feud between former partners Kuafu Properties, Siras Development and Sean Ludwick’s BlackHouse Development has stymied plans for Hudson Rise...
04/03/17
...th Street (Credit: Ceruzzi Properties)
Ceruzzi Properties and Kuafu Properties snagged a $290 million construction loan for their condominium project on the Upper East Side...
03/09/17
...Group’s rental-to-condo conversion at 385 First Avenue.
Kuafu Properties hit pause on its major development at 161 East 60th Street, a $300 million site now...
02/22/17
...Dvorett and Shang Dai
Jeff Dvorett, who joined Kuafu Properties as head of development in 2014, is leaving the firm, the latest executive shake-up at...
02/06/17
...with the New York state Attorney General's office.
Kuafu Properties, another investor with ties to Chinese capital, said last year that it will hold...
01/10/17
...looking at this space,” said Christopher Sameth of Kuafu Properties, a New York-based investment firm that is backed by Chinese private equity. “We’re...
12/30/16
...MiMA
460 West 42nd Street
Developer: SCG America and Kuafu Properties
Projected Sellout: $414.2 million
Units: 151
Type: Conversion
In 2015, New York-based Chinese development firm Kuafu Properties...
11/28/16
...a unique opportunity for Chinese investors.
According to Kuafu Properties CEO Shang Dai, the current climate offers Chinese investors a chance to "not only...
11/25/16
...Stuart Elliott, also featured: Shang Dai, CEO of Kuafu Properties; Scott Alper, president of Witkoff; Sharif El-Gamal, CEO of Soho Properties; Stan Gale Jr...
11/21/16
...co/EL07c7idb5
— Jonathan Miller (@jonathanmiller) November 20, 2016
Kuafu Properties’ CEO Shang Dai said that if U.S. developers honored their commitments to their...
11/18/16
...U.S. real estate.
Shang Dai, CEO of Kuafu Properties, which is backed by Chinese private equity, said he was encouraging Chinese investors to...
10/18/16
...of an Upper East Side development site to Kuafu Properties last year.
Knakal didn’t comment directly on the $75 million threshold, but said he...
10/04/16
...Street and Zengliang “Denis” Shan
The principals at Kuafu Properties, the Chinese private equity-backed development firm that rapidly became one of Manhattan’s most...
10/03/16
...deals of the past two years. In June 2015, Kuafu Properties paid over $1,000 a foot for a 280,000-square-foot site on the Upper East Side. A...
09/21/16
...that that Chinese institutional investors -- such as Kuafu Properties and SMI USA -- are increasingly taking on luxury ground-up developments in Manhattan. --...
09/19/16
...Eisenberg told Bloomberg. “Here, it’s the opposite.”
Kuafu Properties...
06/11/16
...the “Hudson Rise” mixed-use skyscraper being developed by Kuafu Properties on Manhattan’s west side, has released images that point to what may be...
05/13/16
...A rendering of the MiMA condos
Kuafu Properties and SCG America, the U.S. arm of Shanghai Construction Group, are officially launching...
04/28/16
...p.m.: A Midtown-based commercial broker is suing Kuafu Properties and investor Myles Horn, claiming they squeezed him out of a commission on the...
04/26/16
...may soon change though. New York-based Chinese developer Kuafu Properties recently bought 1 MiMA Tower for $260 million with plans to convert it to “affordable luxury...
04/25/16
...Sitt Asset Management and a falling out between Kuafu Properties and partners — disgraced developer Sean Ludwick’s Blackhouse Development and Siras Development — on the...
- Event Financing
- Address 460 West 42nd Street
- Neighborhood Clinton
- Borough Manhattan
- Price $ 211,600,000
- Publication Date 02/01/2016
- Event Date 12/23/2015
- Party 1 Kuafu Properties, Shanghai Construction Group
- Party 2 Industrial, Commercial Bank of China
notes
A $211.6 million acquisition loan was arranged for 1 MiMA Tower.
- Event Financing
- Address 151 East 60th Street
- Neighborhood Lenox Hill
- Borough Manhattan
- Square feet 19,684
- Price $ 200,000,000
- Publication Date 12/01/2015
- Event Date 10/22/2015
- Party 1 Kuafu Properties
- Party 1 Brokerage HFF
- Party 1 Broker Christopher Peck, Jay Marshall
- Party 2 Mack Real Estate Credit Strategies
notes
The company secured a $200 million development and acquisition loan.
- Event Sales
- Address 460 West 42nd Street
- Neighborhood Clinton
- Borough Manhattan
- Price $ 260,000,000
- Publication Date 08/01/2015
- Event Date 06/22/2015
- Party 1 Related Companies
- Party 2 Kuafu Properties
Manhattan, 10022
PARKVIEW TOWER OWNER LLC
PARKVIEW TOWER OWNER LLC
145 East 60th Street is a 10,671 square foot property built in 1900...
12/30/16
...MiMA
460 West 42nd Street
Developer: SCG America and Kuafu Properties
Projected Sellout: $414.2 million
Units: 151
Type: Conversion
In 2015, New York-based Chinese development firm Kuafu Properties...
...tower in 2012 and sold the top 13 floors to Kuafu Properties last year. Apartments in the building regularly rent for more than $5,000 a month.
Meanwhile...
12/30/15
...its diversity. Three Chinese firms appear, including locally-based Kuafu Properties. Global firms like GID Development Group and the Carlyle Group showed up next to...
