Chris (Jia Shu) Xu Of United Construction & Development Group Refinances Long Island City Development Site For $40M

42-50 24th Street is a development site located in Long Island City, Queens. The property has undergone a refinance transaction amounting to $40,000,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $40,000,000
• Lender: Lily Guo - iCross Capital
• Landlord: Chris (Jia Shu) Xu - United Construction & Development Group
• Loan Type: Refinance
• Date: 06/30/2025

The refinancing of the property was facilitated by United Construction & Development Group, which is led by Chris (Jia Shu) Xu. The lender in this transaction, providing the substantial loan, is Lily Guo representing iCross Capital.