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New York Mixed-Use

Kuafu to Acquire 1 MiMA Tower

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Kuafu Properties is in contract to buy One MiMA Tower for $260M. Kuafu plans to market its 151 ultra-luxe rentals as for-sale condos. One MiMA Tower represents the top 13 floors of the 63-story MiMA, the mixed-use Hudson Yards project developed by Related, the Commercial Observer reports. It opened in 2012 and has a separate lobby and elevators. It also has more than 44k SF of world-class amenities and remarkable views, which allow it to command some of the highest rates in the city. The entire mixed-use development also has a 669-key Yotel and a Frank Gehry-designed theater, along with a TreeHaus farm-to-table market and restaurant coming soon. This puts Kuafu Properties' NYC portfolio at over 1M SF of residential, retail and hospitality assets. [CO]

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