Chinese investment in New York real estate has surged in the past two years, with deals including Anbang Insurance Group Co.'s $1.95 billion purchase of the Waldorf Astoria hotel last year, the sale of 1 Chase Manhattan Plaza to Fosun International Ltd. for $725 million in late 2013 and, earlier this year, the sale of the Baccarat Hotel New York by Starwood Capital to Sunshine Insurance Group for approximately $230 million.

“In the long run, Chinese investment in U.S. will definitely grow stronger,” Dai tells Bloomberg. “It is only the beginning of Chinese capital investing abroad, while the US—with its active market and robust economy—undoubtedly is the first choice.”

Kuafu bested its competitors for the East 60th Street site because it acted quickly, says Robert Knakal, the broker for the property. The firm signed a contract for the deal and paid a deposit within two weeks after the first marketing e-mail was sent out, he tells Bloomberg.

“They just moved faster than anybody else and that's what won it for them,” says Knakal, chairman of New York investment sales at Cushman & Wakefield. “They have proven to mean what they say and say what they mean.”

Kuafu has two other projects under development in Manhattan: a hotel and condo tower called Hudson Rise, across from the Jacob Javits Convention Center on 11th Avenue; and a residential-and-retail building at East 86th Street and Lexington Avenue. And the company is growing: it plans to hire two more professionals from New York property firms and expand its offices, Dai says.

Kuafu has started looking for acquisitions in areas such as Brooklyn, New Jersey and Washington DC, because land and property prices in Manhattan have become “too high,” Dai asserts.

The company's next two projects might be rental buildings, he divulges. “It will be a bit unrealistic to continue to chase condo deals, unless they are in great locations or have perks such as Central Park views.”