Work at 24-19 Jackson Avenue in Long Island City's Court Square is officially shifting from digging to climbing. With foundations now poured, the site is gearing up for the 55-story tower to start rising above the sidewalk in the coming weeks, bringing a multistory podium, new retail and hundreds of apartments to a block that is already in flux. For neighbors and daily commuters, the moment steel appears over the fence will be the clearest sign yet of Long Island City's next growth spurt.
Below-grade construction has advanced to the point where concrete slabs have been poured around the building's core, with rebar already sticking up where interior walls and perimeter columns will eventually land, according to New York YIMBY. The project sits on an approximately 18,000-square-foot parcel bounded by 45th Avenue, Jackson Avenue and 23rd Street, and is planned as a 55-story, 676-foot tower that YIMBY reports will deliver about 600 apartments and roughly 10,000 square feet of retail. On-site photos published by the outlet show only a few excavators left on the lot, and YIMBY expects the superstructure to begin climbing later this spring.
Design and scale
The architect's project page pegs completion for 2028 and describes the development as a mixed-use complex built around a multistory podium that supports a sculptural residential tower, according to FXCollaborative. FXCollaborative's materials put the building at about 725,000 gross square feet and call out amenities such as a pool, lounges and a roof terrace. The layout is designed to angle apartments toward neighborhood and river views while anchoring active retail along the street.
Developers and financing
Co-developers Tavros Capital and Charney Companies are leading the project with Incoco Capital after piecing together several parcels and additional air rights. The roughly $525 million construction financing package that set the stage for on-site work was arranged by Greystone Capital Advisors, with senior debt and preferred equity partners in the mix, according to Greystone Capital Advisors. Industry coverage of the loan also identifies Madison Realty Capital, Kushner Companies and OneIM as key backers.
Retail and amenities
Chelsea Piers Fitness has locked in a major podium lease, taking about 72,000 square feet over multiple levels and planning an outdoor swimming pool, an indoor basketball court, fitness studios, a running track and dedicated training areas, as reported by The Real Deal. Developer materials have also pointed to space for a grocery store and additional street-level retail intended to serve the wider neighborhood as well as residents. Together, the fitness and retail lineup is being marketed as outward-facing community infrastructure rather than a closed-off amenity package.
Site history
The core development site last changed hands in 2022, when Tavros and Charney bought a parcel from Toyoko Inn for about $68.3 million, a sale recorded in public documents and reported by PincusCo. Toyoko Inn had previously floated plans for a large hotel on the property, but that concept stalled and the lot remained vacant until the current team finished its assemblage. The developers combined the former hotel site with neighboring townhouses and nearby air rights to create the buildable footprint for the new tower.
Transit and neighborhood context
The appeal of the block is tightly linked to Court Square's transit web, a selling point that developers have repeatedly highlighted when talking to prospective tenants and buyers. Local reporting notes that the location is within walking distance of the 7, G, E, M, N and R subway lines along with other regional connections, according to QNS. That kind of connectivity helps explain why a large fitness operator and a sizable grocery component have signed on for the podium space.
Timeline and what to watch
With foundations mostly wrapped, the next phase - the superstructure rising above street level - is expected to start soon, according to New York YIMBY. The architect's project page and developer materials call for a 2028 delivery, which means interior build-outs and amenity construction will trail the main structural work, per FXCollaborative and reporting tied to the financing. In the meantime, nearby residents can expect cranes, staged material deliveries and occasional lane closures as the tower climbs over the next two years.
