Kuafu Properties borrows $98M from Bank of China for Mima condo units in Clinton

Kuafu Properties through the entity SCG Mima Towers LLC as borrower signed a condo inventory loan agreement with lender Bank of China valued at $98.0 million for 98 condo unit, including the tax class residential condo in Acris (SC) and containing 222 residential units at 450 West 42nd Street in Clinton. The deal closed on December 19, 2019 and was recorded on December 26, 2019.
The average loan per unit is $441,441.
Kuafu obtained this condo inventory loan from Bank of China that replaces secured debt originally totaling $211.6 million from the Industrial and Commercial Bank of China.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link