A Beijing-based developer will build its first U.S. residential property in Williamsburg, Brooklyn.
An affiliate of Xinyuan Real Estate Co., called 421 Kent Development LLC, has closed on 443,000 square feet of vacant land at 421-431 Kent Ave., also known as 32-62 Eighth Ave., for $54.2 million. Xinyuan intends to build a 216-unit residential condominium.
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