23-15 44th Road
Update
08/10/23
67-Story Tower Rises in Long Island City
Subcontractor, Highbury Concrete, is quickly stacking floors at 23-15 44th Road; the site of a 67-story, residential tower, going up in Long Island City, Queens.
The crew is employing a technique, known within the industry as "slip forming", to construct the superstructure. Slip-forming works by pouring concrete into a continuously moving, hydraulically raised form system. The form raises just slow enough that the concrete poured in at the top has time to set and harden before it exits out the bottom. Although generally more expensive than a traditional forming process, the benefit of slip forming is that it can result in significantly faster build times, especially for a structure of this height.
Developed and constructed in-house by , the building is set to contain rental apartments and square feet of commercial space.
Designed by , the structure will stand feet tall and total square feet. Both in sheer height and shape, the tower will greatly contribute to Long Island City's rapidly evolving skyline.
The square foot development site was purchased by back in March of 2022. The developer cut a $200 million check to Stawski Partners, in what was the 2nd largest transacted amount for a development site in Queens' history; bowing only to TF Cornerstone's $285M acquisition of Hunters Point in 2018.
Fast forwarding to September of last year, the team secured a $364.8 million loan to finance the project. Issued by Wells Fargo, this influx of capital is being used to fund all construction costs from the ground up.
Although superstructure pours are well underway at this time, only around a third of the floors have been constructed so far. Provided that forming continues at the current pace, we can anticipate the building to top out sometime next year. Work is ultimately expected to finish by the spring of 2026.
