Chris Xu Gets $68M to Build 88-08 Justice Ave., in Elmhurst

Developer Chris Xu borrowed $67.5 million to build a new condominium tower at 88-08 Justice Ave. in the Elmhurst neighborhood of Queens.

The mortgage from First Commercial Bank, based in Taiwan, includes a new $50 million construction loan and also a second piece that consolidates two earlier notes of $13.25 million and $4.25 million, according to property records found by the Real Deal.

The 18-story tower would include a preschool and daycare center on the first four floors.

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