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New Land Capital Closes the Acquisition of Long Island City Development Deal

Feb 23, 2024

New Land Capital's recent acquisition of a master-plan development site in Long Island City underscores its commitment to NYC's residential space. The mixed-use condominium project, covering 33,983 square feet, features 390 units, 175 parking spaces, and premium amenities. With a proven track record in the area, the investment aligns with Long Island City's rapid growth trends and reflects New Land's strategic value-creation approach in real estate development.

Penthouse at Skyline Tower sets price record in Queens

The Real Deal  Aug 29, 2023

Queens Penthouse Sets Record Price at Skyline Tower" - A two-bedroom penthouse at Skyline Tower in Queens closed last week for $2.3 million, setting a record price per square foot in the borough at $2,300. This luxurious apartment offers views of the Manhattan skyline and marks a significant achievement for Queens' real estate market.

Chris Jiashu Xu files 213K sf Long Island City project

The Real Deal   Aug 9, 2023

Chris Jiashu Xu, the visionary developer of Queens' tallest skyscraper, announces a groundbreaking 14-story project in Long Island City. With a $40 million investment, the 213,000 sq.ft. building's purpose remains a mystery—rental or condominium? Xu's strategic moves redefine Queens' landscape, marking him as a dynamic force. As anticipation builds, the city awaits the unveiling of another architectural masterpiece.

Inside the N.Y.C. Neighborhood With the Fastest Growing Asian Population

The New York Times  Jun 23, 2023

Long Island City, located in Queens, a fivefold increase in Asian residents since 2010 and is transforming the area’s restaurants, housing, and politics. It is a microcosm of a sweeping demographic shift: a booming Asian population that has become the fastest-growing racial group in the country. Formerly an industrial area, Long Island City has transformed into a hub of luxury apartment towers, drawing in Asian immigrants,  students, and business activities. The post-pandemic population return has sparked a swift revival in LIC's commercial and real estate sectors.

Developer of Queens' Tallest Building to Build Huge Mixed-Use Project in Flushing

Newyorkcity apartments Jun 29th,2022

Chris Xu, known for developing Queens' tallest building, has acquired a vacant property in Flushing for $103 million and plans a large mixed-use development at 131-01 39th Avenue. The project, formerly home to Assi Plaza, will include 368 residential units in a 245-foot tower, 314,000 square feet of commercial space, and 11,000 square feet for community use. With ongoing major developments in Flushing, this project contributes to the neighborhood's transformation into a highly desirable location.

Closings Underway at Queens’ Tallest Building

The Real Deal  Mar 4th, 2021

Queens' towering achievement, Skyline Tower, is poised to make history with a potential record-breaking sellout. Approximately 41% of the 801 units in the Long Island City condominium are in contract, with the first closings underway. The 67-story landmark targets a remarkable $1.09 billion sellout, marking a groundbreaking milestone as the borough's first condo vying for a billion-dollar valuation.

United Construction and Development Group Ranked the 10th Most Active Developer in NYC

The Real Deal  Dec 28th, 2020

All of United’s ongoing projects are in Queens. When complete, a 778-foot tower at 23-15 44th Drive in Long Island City will be the borough’s tallest. Appropriately dubbed Skyline Tower, the 780,000-square-foot project will have more than 800 condo units. The tower is being developed by United alongside FSA Capital and Risland US Holdings. Yimby reported earlier this month that work on the building’s exterior was in the final stages.

What the Coronavirus Has Done to New Development

The New York Times  July 3, 2020

The pandemic paused residential construction and stalled sales. Now developers in Long Island City and Greenpoint are scrambling to bounce back. This includes Skyline Tower, the 778-foot luxury condo building in Long Island City that looms over western Queens, which was built to break records - It is the tallest building in the borough; the most ambitious, with sales projected to exceed $1 billion.

United Construction and Development Group Ranked the 4th Most Active Developer in NYC.

The Real Deal  Dec 18th, 2019

At 778 feet, United’s Skyline Tower in Long Island City is expected to be the tallest building outside Manhattan for a time. The project, which is also being developed by Hong Kong developer Risland Holdings, spans 780,844 square feet. It will have more than 800 condo units with a combined price tag of more than $1 billion. The tower appears to be United’s largest under construction. Hong Kong developer Risland Holdings is a partner on the project. 

United Construction and Development Group Ranked the 7th Most Active Developer in NYC.

The Real Deal  Dec 27th, 2018

All of United’s active projects are in Queens. The developer’s biggest is a condo project at 23-15 44th Drive in Long Island City, which is expected to span 780,677 square feet. The 802-unit tower has $1 billion projected sellout, which is reportedly a record for the borough. In July, the Chris Jiashu Xu-led company scored a $502 million construction loan for the project.

Queens Gets Its First Billion-Dollar Condo Tower, With 802 Units

Bloomberg  Oct 25th, 2018

Skyline Tower in Long Island City, Queens, is set to become the borough's first billion-dollar condo tower, with a projected sellout of $1.008 billion. This 67-story building will feature 802 units, ranging from $600,000 studios to $3.04 million two-bedroom apartments on the top floor, marking a significant milestone in Queens' real estate market.

Chris Xu’s record-breaking LIC condo tower aims for $1B sellout

The Real Deal  Oct 2,2018

United Construction & Development Group’s Skyline Tower in Long Island City, destined to be Queens' tallest building at 964 feet, is on track to become the borough's inaugural billion-dollar condominium development. With state approval, the 802-unit tower will offer condos ranging from $600,000 for a studio to $3.04 million for a two-bedroom, aiming for an estimated sellout of $1.008 billion.

Chris Xu secures $502M construction loan for tallest condo in Queens

The Real Deal  July 8, 2018

United Construction & Development Group has secured a $502 million construction loan for upcoming condo project “Skyline Tower” in Long Island City, which will be Queens' tallest building at 67 stories. The loan, facilitated by a consortium including JPMorgan Chase, will support the 802-unit Court Square City View Tower. The project, with a total investment of $700 million, is set for completion by 2021.

Soaring Condo Project Coming to Long Island City

The Wall Street Journal  July 8, 2018

Queens' First Billion-Dollar Condo Tower with 802 Units" - Long Island City, Queens, welcomes its inaugural billion-dollar condominium tower featuring 802 apartments. Led by developer Chris Xu, this 67-story project marks a milestone in Queens' residential development. Securing a $502 million construction loan from a group of banks, including JPMorgan Chase, highlights the growing interest in this new condo market​​.

In Flushing: Upscale Condos and Retail

The New York Times  Aug 28, 2015

Dive into the transformation of Flushing as The New York Times unravels the fascinating tale of upscale condos and retail development in this bustling neighborhood. The article, published in 2015, explores the dynamic changes in real estate, capturing the essence of Flushing's evolution. From luxurious condominiums to thriving retail spaces, discover how this once-unassuming area has become a hotspot for investment and modern living.



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