NEW YORK CITY — A joint venture between Siras Development and Kuafu Properties has completed the acquisition of a development site in Midtown Manhattan’s Hudson Yards for approximately $62 million. The site comprises five adjacent parcels located at the southeast corner of 38th Street and 11th Avenue. The joint venture plans to develop a 380,000-square-foot mixed-use project on the site, which is directly across from the Jacob Javits Center. The property will include 50 condominium units in the top 15 floors of the tower; a 400-room high-end hotel on 20 floors; and the Shanghai Club, a members-only club, on three floors, as well as office, ground-floor retail and lifestyle space. Archilier Architecture designed the 47-story tower, which will have a sleek, modern appeal with a distinctive Asian influence.
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