Transactions - JULY 7, 2015

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Kuafu to pay $260m for 151 apartment units in Manhattan

by Andrea Waitrovich

Chinese investor Kuafu Properties has plans to acquire 13 floors of apartment units, located at 460 W. 42nd St., for $260 million from Related Cos.

The mixed-use property called One MiMA Tower is 63 stories tall.

The New York–based Chinese development firm is planning to convert the 151 luxury residences into condominiums. Amenities include a theater, multiple lounges, business center, Dog City pet care facility, screening room, bicycle storage, technology center and valet dry cleaning. The mixed-use development also includes a Frank Gehry-designed theatre, a 669-key Yotel and a soon-to-open TreeHaus, a farm-to-table market and restaurant. Other amenities include a fitness club managed by Equinox, swimming pool, full-size basketball court, outdoor terraces and catering kitchen.

One MiMA Tower spans the top 13 floors of a mixed-use project that also includes a separate 663-unit rental building at the base, called MiMA, which Related Cos. will con

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