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23-15 44th Drive


2017 Skyscrapers

2017 New Construction Report: Building Applications Crash, Down 38 Percent Since 2015

New building applications for single and multi-family residential developments in New York City saw a major slowdown in 2016, as the fading boom following the changes that occurred at the Department of Buildings in 2014 began to slack further. Numbers have plunged by over half since 2014, and by 38 percent since 2015. The full report with spreadsheets covering every new building application is available at the research store.

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23-15 44th Drive

Developer Acquires High-Profile Site At 23-15 44th Drive, Long Island City

Earlier this year, Citigroup began advertising their development site at 23-15 44th Drive, in Long Island City, and now Jia Shu Xu’s C&G Empire Realty is acquiring the property for $143 million. The 36,000 square-foot site — a block from the Court Square stations serviced by the E, M, G and 7 trains — boasts roughly 780,000 square feet of building potential in the form of residential or commercial space. The new owner’s plans have not been disclosed, but existing three- and single-story structures must first be demolished.