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Top 13 Floors of MiMA Are Going From Rental to Condo

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When the 63-story MiMA at 450 West 42nd Street was developed by Related in 2009, the top 13 floors, named One MiMA Tower, were supposed to be luxury condos. However, by the time the building was ready for occupancy in 2012, market conditions had changed for the worse and Related decided to make them rentals instead. But now those floor will fulfill their true destiny—having been purchased by (currently very busy) Chinese private equity firm Kuafu Properties, the units of One MiMA Tower will become the condos they were always meant to be. Shang Dai, Kuafu's CEO says that he expects buyers to combine units, and points out that the apartments will be delivered in nine months, much quicker than new construction would be.

· Kuafu Makes Big MiMA Play [CO]
· MiMA coverage [Curbed]

MiMA

450 West 42nd Street, New York, NY 10036 Visit Website