Photo: The Real Deal | In the world of mid-market New York City investment sales last week, Blackstone Group and Fairstead Capital sold another Caiola portfolio building and Chris Xu bought a commercial building in Elmhurst.
Photo: The Real Deal | Prolific Queens developer Chris Xu locked down a $67.5 million mortgage to build a 183-unit condominium project in Elmhurst. The money from Taiwanese company First Commercial Bank consolidates two notes of $13.25 million and $4.25 million, and it includes a new $50 million construction loan as well, according to property records.
Photo: The Real Deal | Developer Chris Jiashu Xu is selling his Archer Towers development site in Jamaica for roughly $55 million, The Real Deal has learned. BRP Companies is in contract to buy the adjacent lots at 163-05 and 163-25 Archer Avenue, according to sources familiar with the deal, which officially closed on Jan. 11.