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NEW YORK CITY — Beijing-based developer, Xinyuan Real Estate, has acquired a full-block development site at 421 Kent Ave. in Williamsburg for $54 million. The deal represents one of the largest development site transactions in all of the outer boroughs this year. The site is two blocks south of the Williamsburg Bridge and accommodates 400,000 square feet of buildable residential development. The new owner has rights to build 216 condominium units, and plans approved for the site include the construction of 12 individual buildings.