Excitement Builds as Incoco Capital and Partners Break Ground on a Stunning 55-Story Skyscraper in LIC
In a significant announcement for New York City's skyline, Incoco Capital, along with Charney Companies and Tavros, has celebrated the groundbreaking of an ambitious 55-story skyscraper situated at Court Square in Long Island City (LIC). This landmark project, which will host a range of luxury condominium units, marks a thrilling addition to the area that is increasingly becoming a hub for residents and businesses alike.
Long Island City, strategically located at the intersection of Queens, Brooklyn, and Manhattan, is undergoing rapid development, and this new skyscraper aims to enhance that momentum. The specific addresses for the new condo are 24-19 Jackson Avenue and 45-03 23rd Street. While the formal name for the building remains to be decided, its significance within the borough is already apparent.
For nearly a decade, the developers Charney and Tavros have painstakingly worked on assembling the necessary properties for this towering construction, beginning their efforts in 2016. They purchased multiple contiguous townhouse lots and acquired additional air rights, culminating in a project site that finally materialized when Incoco Capital came on board in 2022. This partnership expanded the original site area by acquiring extra land from the Japanese hotel chain Toyoko, effectively doubling the construction footprint.
"We have successfully managed numerous projects across New York, collaborating with distinguished developers and institutional investors, including partnerships in Korea," remarked Fa Park, Chairman and Founder of Incoco Capital. With this project promising extensive job creation and an economic boost, Incoco is also looking into EB-5 investment possibilities that align with their expansion goals.
Sam Charney, the Principal at Charney Companies, expressed his excitement regarding the project: "Transforming our vision of high-end condos in such an electrifying neighborhood into reality is exhilarating. This journey to groundbreaking has required persistence, hard work, and unyielding vision, all supported by an exceptional team and our partners."
The design of the skyscraper comes from the renowned architecture firm FXCollaborative. Plans include a variety of living spaces, offering studios as well as one- to four-bedroom units tailored to meet diverse lifestyle needs. In addition to luxury residential offerings, the building will feature premier amenities, a top-tier grocery store, and a Chelsea Piers fitness center within its podium.
Nicholas Silvers, Founding Partner of Tavros, expressed his enthusiasm for the project: "Today marks a highly anticipated moment for us, having awaited this groundbreaking for nearly ten years. Once completed, residents will be able to enjoy breathtaking views spanning three boroughs of New York City, complemented by outstanding amenities and an unbeatable central location that grants easy access to everything the city can offer."
A focal point for public transportation, Court Square is exceptionally well-connected, with direct access to the 7, G, E, M, N, and R subway lines, as well as numerous bus routes traversing Brooklyn, Queens, and Manhattan. The nearby Long Island Railroad adds to the location’s appeal, along with an array of restaurants, parks, and cultural institutions like MoMA PS1 all within walking distance—indicating that the lifestyle offered here is both exciting and vibrant.
The anticipated occupancy date for this monumental skyscraper is set for the spring of 2028, allowing prospective residents ample time to look forward to a new chapter in Long Island City’s transformative story. As Incoco Capital, Charney Companies, and Tavros embark on constructing this modern marvel, they pave the way for further growth and sophistication in one of New York's most dynamic neighborhoods.
Long Island City, strategically located at the intersection of Queens, Brooklyn, and Manhattan, is undergoing rapid development, and this new skyscraper aims to enhance that momentum. The specific addresses for the new condo are 24-19 Jackson Avenue and 45-03 23rd Street. While the formal name for the building remains to be decided, its significance within the borough is already apparent.
For nearly a decade, the developers Charney and Tavros have painstakingly worked on assembling the necessary properties for this towering construction, beginning their efforts in 2016. They purchased multiple contiguous townhouse lots and acquired additional air rights, culminating in a project site that finally materialized when Incoco Capital came on board in 2022. This partnership expanded the original site area by acquiring extra land from the Japanese hotel chain Toyoko, effectively doubling the construction footprint.
"We have successfully managed numerous projects across New York, collaborating with distinguished developers and institutional investors, including partnerships in Korea," remarked Fa Park, Chairman and Founder of Incoco Capital. With this project promising extensive job creation and an economic boost, Incoco is also looking into EB-5 investment possibilities that align with their expansion goals.
Sam Charney, the Principal at Charney Companies, expressed his excitement regarding the project: "Transforming our vision of high-end condos in such an electrifying neighborhood into reality is exhilarating. This journey to groundbreaking has required persistence, hard work, and unyielding vision, all supported by an exceptional team and our partners."
The design of the skyscraper comes from the renowned architecture firm FXCollaborative. Plans include a variety of living spaces, offering studios as well as one- to four-bedroom units tailored to meet diverse lifestyle needs. In addition to luxury residential offerings, the building will feature premier amenities, a top-tier grocery store, and a Chelsea Piers fitness center within its podium.
Nicholas Silvers, Founding Partner of Tavros, expressed his enthusiasm for the project: "Today marks a highly anticipated moment for us, having awaited this groundbreaking for nearly ten years. Once completed, residents will be able to enjoy breathtaking views spanning three boroughs of New York City, complemented by outstanding amenities and an unbeatable central location that grants easy access to everything the city can offer."
A focal point for public transportation, Court Square is exceptionally well-connected, with direct access to the 7, G, E, M, N, and R subway lines, as well as numerous bus routes traversing Brooklyn, Queens, and Manhattan. The nearby Long Island Railroad adds to the location’s appeal, along with an array of restaurants, parks, and cultural institutions like MoMA PS1 all within walking distance—indicating that the lifestyle offered here is both exciting and vibrant.
The anticipated occupancy date for this monumental skyscraper is set for the spring of 2028, allowing prospective residents ample time to look forward to a new chapter in Long Island City’s transformative story. As Incoco Capital, Charney Companies, and Tavros embark on constructing this modern marvel, they pave the way for further growth and sophistication in one of New York's most dynamic neighborhoods.
Topics Consumer Products & Retail）
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