Flushing-based Hiwin Group USA has acquired a Midtown West property for $21 Million, previously home to the Iguana New York restaurant and Latin dance club. The site located at 240 West 54th Street, offers 75,000 buildable square feet.  

Flushing-based Hiwin Group USA plans two new condo projects near Penn Station, mirroring the success of their recent 300 West 30th Street Development. The projects, located at 250 West 30th Street and 245 West 34th Street, are expected to offer similar heights and sizes.

Hiwin Group has acquired two parcels near Penn Station for condo developments. The company, which previously developed 300 West 30th Street, plans to build similar-sized condos with smaller units priced around $1M. Hiwin CEO, Anthony Hu, believes the neighborhood has strong demand.

Hiwin Group USA is expanding its presence near Penn Station with two new condo projects at 250 W. 30th Street and 245 W. 34th Street. The Flushing-based developer recently sold out its 300 W. 30th Street project, prompting further investment in the area.