The increasingly prolific Kuafu Properties has snatched up the six-parcel assemblage that includes the beloved, and doomed, Subway Inn, for $300 million, Crain's reports. Their plan, as expected, is to build a condo tower, demolishing the buildings that currently sit at the site and adding 60,000 square feet of retail space to a new ground-up project. Beyond that, the details are not known, but the site could accommodate a tower over 1,000 feet tall, which would be the tallest in Midtown East. Bob Knakal, who marketed the property, said that Kuafa "just moved faster than anybody else and that's what won it for them. They have proven to be folks who mean what they say and say what they mean."
· Chinese real estate company buys former Subway Inn location for $300M [Crain's]
· Subway Inn coverage [Curbed]
· Kuafu Properties coverage [Curbed]