Xinyuan Plans Mixed-Use Project in Queens
- Aug 04, 2016
New York—Xinyuan Real Estate Co.’s U.S. development arm, XIN Development Group International, has acquired a parcel of land in Flushing, Queens, for a total of $66 million.
Located at 135-35 Northern Blvd., within walking distance of the 7 train to midtown Manhattan, the parcel allows for the development of a mixed-use project totaling roughly 372,598 gross buildable square feet. Formerly known as the RKO Keith’s Theater, the site will ultimately house 269 modern condominiums with amenities such as a 24-hour doorman, fitness center, tenant lounge, and 305 parking spaces. The development will also feature ground- and second-floor retail space. With this new project, XIN Development Group has roughly 1 million square feet of buildings under construction across three New York City boroughs.
“We are very pleased to be developing our third major project in the New York residential real estate market,” Xinyuan Chairman Yong Zhang said in a statement. “The location for this project in downtown Flushing is ideally situated particularly as there is a shortage of inventory in the higher-end condominium market.”