XIN Acquires Flushing Land Parcel for $66M

August 4, 2016 – Media Mention
Commercial Observer

The Commercial Observer reported on Herrick partners Belinda Schwartz and Christina Ying’s representation of XIN Development Group in its acquisition of a parcel of land in Flushing, Queens, for $66 million. XIN plans to build a 269-unit condominium project with ground- and second-floor retail on the site, which includes RKO’s Keith Theater. “This Flushing property was attractive to XIN because it is a ‘shovel-ready’ project, which means there are building permits and other approvals already in place for construction of the condo project,” Ying told the Commercial Observer. “An acquisition of this nature, however, requires a greater level of due diligence, which Herrick and the XIN team were able to complete in a short amount of time.”