Long Island City will soon be the home to Queens’ tallest tower to date.
On July 9, the developers of 23-14 44th Dr. secured 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, who 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, who have designed a number of iconic buildings in Manhattan, Brooklyn and the Bronx. The architecture firm’s design arm, Whitehall 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 apartments will sit atop ground-floor retail, according to Modern Spaces.
For more information on the project, contact Modern Spaces through their website.
Rendering courtesy of MAQE
