Sheng Zhang
Xin Development Group International
(Xinyuan Real Estate, Xinyuan USA, Xinyuan Real Estate Co.)
Xin Development Group International portfolio
(NYC’s “Market Value,” 50% or less of actual value)
$68.9 million – condo 70%, specialty 29%; Brooklyn 47%, Queens 29%
738th largest portfolio by dollar value
436,691 sqft – specialty 36%, D6 32%;
667th largest by SF
47 properties – Brooklyn 82%, Manhattan 12%
110th largest
121 residential units – Manhattan 67%, Brooklyn 32%
677th largest by residential units
1 foreclosure, 3 bankruptcies, 4 other court cases.
Person Activity past 24 months:
Buyer signatory: 0 for $0
Seller signatory: 1 for $50 million
Borrower signatory: 2 for $65 million
Lender signatory: 0 for $0
Developer (new building or major alteration): 0 for 0 square feet
Top Ten Associated Companies:
Avant Capital (2), BH3 Management (1)
Top Ten Associated People:
Adam Luysterborghs (2), Neil Ellner (1)
Recent activity as signatory:
• Xin Development Group International borrowed $32.5 million from Avant Capital for 615 10th Avenue, 631 10th Avenue, 625 10th Avenue, 619 10th Avenue, and 505 West 44th Street, Hell’s Kitchen, Manhattan on December 13, 2024.
• Xin Development Group International borrowed $32.5 million from Avant Capital for 615 10th Avenue, 631 10th Avenue, 625 10th Avenue, 619 10th Avenue, and 505 West 44th Street, Hell’s Kitchen, Manhattan on December 13, 2024.
• Xin Development Group International sold 500 West 45th Street, 500 West 45th Street, 500 West 45th Street, 500 West 45th Street, 500 West 45th Street, and others, Hell’s Kitchen, Manhattan for $50 million to BH3 Management on October 24, 2024.