Skyline Tower Developer Acquires LIC Site for $57M

Skyline Tower Developer Acquires LIC Site for $57M

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.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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