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New York & Tri-State  + Outer  + Industrial  |  March 11, 2024
Emily Fu
By: Emily Fu

Skyline Tower Developer Buys LIC Site for $57M 

United Construction & Development Group has acquired a development site in Long Island City, located at 42-50 24th Street, from Fisher Bros. for $57 million, New York Business Journal reported.  

The site, previously subject to abandoned tower development attempts, now falls under United’s purview. Dynamic-Hakim and Property Markets Group had initially proposed a 74-story tower, later revisited by Fisher Bros. for a 35-story project. Fisher Bros. transferred control to United in 2017, obtaining demolition and new-building permits in 2020. United, known for its Queens-based projects like Skyline Tower, aims to contribute to the neighborhood’s growth. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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