The newly completed Skyline Tower, now the tallest building in Queens and the second largest building in all of New York City by unit count, has reached 50% sold.
Leading up to 50% sold, Modern Spaces has seen an uptick in sales at Skyline Tower since the start of the year, averaging 14 to 16 deals per month, even during the slower selling days of the pandemic, as many local buyers return to Queens to take advantage of low-interest rates.
Not only did the building surpass the neighboring One Court Square as the tallest structure in the neighborhood, but Modern Spaces is well on its way to potentially breaking another record with the anticipated billion-dollar sellout of the tower — they already made $500 million in sales so far.
The most expensive listing sold to date is a 50th floor, three-bedroom home for $2,571,736 or $1,931 per square foot.
The condominium was introduced to the market in August 2019 by Modern Spaces and finished up construction this past July.
Located at 23-15 44th Dr. in Long Island City, the 67-story, 778-foot-tall luxury condominium building is designed by Hill West Architects and developed by United Construction & Development Group, FSA Capital and Risland US Holdings LLC.
With 801 units, the building offers studios to four-bedroom homes, ranging in price from approximately $500,000 to $4 million.
Back in the beginning of March, a new ground-floor subway entrance opened, providing access to the Court Square-23rd Street station that services the E and M trains that run into Manhattan.
The project provided $16 million for station improvements, including a wide staircase, a new elevator, a ramp, ADA-accessible gates and turnstiles. There will also be an additional elevator built in the near future that will connect the Manhattan-bound platform to the rest of the Court Square station servicing the nearby 7 and G trains.