NEW YORK CITY—Xinyuan Real Estate Co., Ltd., the first real estate developer from China to be listed in the New York Stock Exchange, has formed a joint venture with Kaufu Properties, based in New York. Kuafu was established to bridge Chinese and other Asian investors to the real estate market in the United States. The joint venture, called Xin Fu Development, is majority owned by Xinyuan's US unit. The joint venture will bolster Xinyuan's operations in New York, providing construction management and marketing support.
Currently, Xinyuan has three projects in New York City:
The Oosten Project in Williamsburg, Brooklyn, located at 429 Kent Ave., is an eight-story building. Xinyuan acquired a full block of land, and completed the 216-unit condominium in 2012. Its current listings with Halstead Property includes apartments ranging from a $980,000 1-bedroom unit to a $6.4 million 5-bedroom unit.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
