Developer Chris Xu’s Corona-based real estate firm, United Construction & Development Group, recently acquired the North Flushing Pool Club site for $16 million. A limited liability company affiliated with Xu’s firm closed on the 0.8-acre property less than six months after brokerage firm Development Site Advisors began marketing it in March.
According to marketing materials for the property, the current zoning allows for the construction of two buildings totaling 75,592 square feet. The property fronts 31st Drive and 32nd Avenue, and is adjacent to the Queens Public Library.
No plans or permits had been filed with the city Department of Buildings as of Aug. 22.
United Construction closed on the transaction on July 27, according to records filed with the city register. Maspeth Federal Savings and Loan provided an $8 million mortgage.
News of United Construction’s acquisition comes shortly after Crain’s reported that it filed plans with the Department of Buildings to develop a 213,000-square-foot residential building at 24-03 43rd Ave.
United Construction is also the developer behind the Skyline Tower in Court Square, which has been billed as the tallest building in Queens. Xu also bought the site at 131-01 39th Ave., where Young Nian Group at one time was planning to erect a 19-story building totaling 654,000 square feet, in 2022.
United Construction did not respond to a request for comment by press time. Management from the North Flushing Pool Club also did not respond by press time.