2016-02-17 / Front Page

Plan New Tower To Overshadow Citicorp Building

By Liz Goff
A new, 79-story, mixed-use tower may soon overshadow the Citicorp Tower and Tower Two in Long Island City.

Developer Chris Xu has filed plans for development of the Court Square Citi View Tower at 23-15 44th Drive, a 963-foot tall building that would be one of the tallest buildings in the neighborhood.

Plans call for the tower to soar 500-feet taller than CitiGroup;s iconic One Court Square, which sits just across the street and tops out at 658-feet and features 50 stories, a spokesperson for Xu said.

New building applications filed for the project show the building will feature 774 apartments on 759,412 square-feet of residential space.

The ground floor will feature 19,721-square-feet of retail space, with a garage on the second floor and one apartment plus amenity space on the third floor. The fourth, fifth and sixth floors will feature smaller apartments ranging from 24 to 52 units per floor.

The number of units decrease as the tower rises, with 11 units featured on eah of the next  50 stories. Three penthouse apartments are featured on the 76th through the 78th floors.

The building will feature 225 parking spots spread between the cellars and the second floor.

Xu acquired the nine-parcel, 79,000-square-foot site from Citigroup in July 2015 for $143 million. The parcel located just west of the Citigroup towers at 23rd Street, between 44th Road and 44th Drive in Long Island City, encompass a vacant lots, a small apartment building and several warehouses.

Citigroup originally planned to build another tower at the site, but decided to sell the property after taking a beating during the recent recession, real estate sources said.

Financial giant Citiorp built its Cito Tower One in 1988, despite criticism from the owners of nearby, decades-old town houses who voiced concerns that the building would create traffic, environmental and other municipal problems in the close-knit neighborhood.

The neighborhood, located near public transportation and within walking distance of the Queens Plaza transportation hub, has become a haven for people who want to live in a Manhattan-like atmosphere outside the big city, real estate experts said.

Return to top

Copyright 1999-2018 The Service Advertising Group, Inc. All rights reserved.