SMI pays $73M for stake in Toll Brothers project

The U.S. arm of Shanghai Municipal Investment just shelled out $73 million for a majority stake in a Toll Brothers project in Tribeca. SMI USA and Toll Brothers City Living plan to develop a 19-story, 111-unit luxury condominium at 351-355 Broadway, the companies announced earlier this month. According to records filed on Monday with the city’s Department of Finance, as part of the companies’ joint venture, SMI bought a 75 percent stake in the two […]

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