Chinese firm enters NYC Manhattan market

Chinese firm Strategic Capital has made its first investment in the Manhattan multifamily market. Strategic Capital entered a joint venture with Cape Advisors and Forum Absolute Capital Partners to develop a 280,000-square-foot tower with 170 condominiums, in addition to ground-floor retail and parking, located at 110 Charlton St. and 537 Greenwich St., in the Hudson Square neighborhood of Manhattan.

Strategic Capital and Cape Advisors will co-develop the property.

Strategic Capital has initiated an equity investment of $140 million in the development. The project is scheduled to break ground this year.

Strategic Capital is the investment arm of China Construction America.