Real Estate
Queens’ Tallest Tower
BY JENNA BAGCAL
www.qns.com I LIC COURIER I AUGUST 2018 15
Long Island City will soon be the home to Queens’
tallest tower to date.
On July 9, the developers of 23-14 44th Dr. se-cured
a $502 million loan from JP Morgan, which
was brokered by the New York City-based company
Meridian Capital Group.
The loan is the largest loan ever for the borough
and one of the largest for the city, according to Modern
Spaces, which is exclusively handle marketing and
sales for the project.
Chris Xu of United Construction and Development is
the lead developer on the project, and is collaborating
with partners Henry Yeung, Brian Pun of FSA Capital
and Risland U.S. Holdings LLC.
The firm responsible for the building’s design is
Hill West Architects, which has designed a number
of iconic buildings in Manhattan, Brooklyn and the
Bronx. The architecture firm’s design arm, White-hall
Interiors, will be responsible for the building’s
interior design.
Once the project is completed, the 802-unit luxury
condominium is slated to rise 67 stories, making the
project the tallest outside of Manhattan. The apart-ments
will sit atop ground-floor retail, according to
Modern Spaces.
On July 16, Assemblywoman Catherine Nolan
addressed a letter to Mayor Bill de Blasio, in which
she highlighted her concerns about the “inadequacy
of the current zoning in Long Island City.”
“I have written numerous letters opposing such large
towers and asked for changes in zoning. I understand
that the LIC Core Neighborhood Planning Study is
again on hold, while we see new tower after tower
being proposed and built in LIC ‘as of right,’ said the
assemblywoman.
“Worse, the City has recently embarked on
various efforts to increase the size and volume
of buildings further by trading City owned land
or air rights to further boost size and height,” she
continued. “The proposal which was voted down
by Community Board Two at 27-01 and 26-32
Jackson Avenue is the latest example. LIC is
facing an emergency situation. Therefore, I ask
for a moratorium on any new Buildings Depart-ment
permits for new construction in Long Island
City until the city can present a plan for properly
increasing the infrastructure,” said Nolan.
Mayor de Blasio’s office could not be reached for
comment at this time.
Rendering courtesy of MAQE
/www.qns.com
