trending Market Intelligence /marketintelligence/en/news-insights/trending/dqjvbWPRK4WCXAF-PoHCcg2 content esgSubNav
In This List

Jiayuan International plans to buy NY residential complex

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022

Blog

Insight Weekly: Reviving nuclear power; 2023 outlook for US financials; PE funds fuel EV sector


Jiayuan International plans to buy NY residential complex

Jiayuan International Group Ltd. inked a non-binding letter of intent to buy a residential complex development in New York for a consideration of between US$15.0 million and US$30.0 million.

The proposed purchase of the project will be carried out through the acquisition of Choy Ling Lam and Renghe Capital LLC's respective half-stakes in Waterfront Resort Inc., the developer of the residential complex at 109-09 15th Ave., College Point in Queens.

Upon completion, the 180,000-square-feet development will feature two six-floor residential buildings with car parking spaces, ships berth and a harbor-front recreation area.

The China-based company said it will conduct due diligence on both the targeted developer and the project.

According to a news release, the consideration for the deal could still change as no binding agreement has been signed yet with negotiations between parties still ongoing.