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New York & Tri-State   /   August 9, 2019

Paul Bubny
By: Paul Bubny

Queens’ Tallest Condo Tower Banks $220M Ahead of Sales Push

Sales are officially underway at Skyline Tower, the city’s tallest building outside Manhattan. Brokerage firm Modern Spaces has sold $223 million worth of residential condominium inventory since the 67-story Long Island City project’s soft launch in May.

“With its prime location, extensive amenity package and striking design, we are confident that these new homes will draw more young professionals and new families to the neighborhood,” said Modern Spaces CEO Eric Benaim.

The building is being developed by a joint venture of Risland Holdings LLC, FSA Capital and United Construction & Development Group. Plans call for 26,841 square feet of ground-floor retail space, as well as a new Court Square subway stop at the building’s base.

Skyline Tower initially broke the record for the highest projected sell out at $1.067 billion, excluding penthouses that will be released at a later date. Move-ins are slated to begin in 2020.

Connect Texas Multifamily will take place August 15, 2019 in Dallas. For more information, or to register, click here.

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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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