United Construction & Development Group has recently acquired a prime development site in Long Island City for $57 million. According to the New York Business Journal, the property, located at 42-50 24th Street and previously owned by Fisher Bros., was subject to abandoned tower development attempts before falling under United’s purview.
The site had initially been proposed for a 74-story tower by Dynamic-Hakim and Property Markets Group. However, after being revisited by Fisher Bros. as a potential location for a 35-story project, control of the property was ultimately transferred to United in 2017. With demolition and new-building permits obtained in 2020, United is now poised to lead this exciting new development opportunity.
As an expert developer with extensive experience in Queens-based projects such as Skyline Tower, United is well-positioned to contribute significantly towards the growth of this vibrant neighborhood.
