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New Empire Plans Second Condo Project in Long Island City
New Empire Corp. acquired 24-01 Queens Plaza North in Long Island City for approximately $26 million. The 115,000 square-foot lot will be developed into a 100-plus unit condominium development with groundbreaking slated for the fourth quarter of this year.
“Situated on the Northern side of the Queensboro Bridge, we were attracted to this location as it’s a dynamic gateway to Manhattan, and continues to be in demand,” said Bentley Zhao, chairman and CEO of New Empire. “From the success of our other LIC project, The Neighborly, we predict this too will draw interest from first time buyers, many being young professionals who have settled into New York City from outside of the United States, specifically Asia.”
The acquisition of 24-01 Queens Plaza marks New Empire’s second development in LIC. The Neighborly, located at 37-14 NW St., was one of the top selling condo projects in New York City during 2020.
- ◦Sale/Acquisition
- ◦Development


