Carmel Partners 921-Unit Residential Building in LIC Reaches 50% Completion

Construction is progressing rapidly at 43-30 24th Street, a 66-story residential skyscraper in Long Island City, Queens. The towering structure is developed by Carmel Partners, and it was designed by Hill West Architects. 

What is known about the project: The new high-rise will accommodate 921 units spread over 838,000 square feet, along with 17,400 square feet of ground-floor commercial retail space. Carmel Construction East is the designated general contractor for the project.

Amenities available for tenants: The cellar levels will host a 39-vehicle garage and 280 bicycle storage spots. Additionally, there will be public car parking for up to 170 vehicles on the first floor, office space, a fitness center, recreation rooms, an outdoor terrace on the second floor, and a swimming pool on the third floor. Apartment units are expected to commence from the fourth level, accommodating up to 16 units per floor.

The history of the development: The developer acquired the complete 79,250-square-foot block from Stawski Partners for $200 million in March 2022 and later secured a $364 million construction loan from Wells Fargo to fund the project. 

Location, location, location: The closest subway station to the development is the elevated Court Sq stop, serving the G and 7 trains and offering free transfer access to the Court Sq – 23 St station for the E and F lines.

If everything remains on schedule, the completion date for 43-30 24th Street is set for September 2026.