Jul
27
Chinese Firm Plans Condo Tower at NYC’s Subway Inn Site
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Pedestrians pass the Subway Inn bar in New York on July 25, 2014. Photographer: Michael NagleBLOOMBERG
Kuafu Properties LLC, a New York-based Chinese investment firm formed two years ago, plans to build a condominium tower at the Upper East Side site that once housed the Subway Inn dive bar.
The company signed a contract to buy the property on East 60th Street, near Lexington Avenue, from World Wide Group, Chief Executive Officer Shang Dai said in an interview. Kuafu intends to demolish the buildings at the site and add about 60,000 square feet (5,570 square meters) of retail space in its ground-up project, he said…
