INCOCO CAPITAL, WITH PARTNERS CHARNEY COMPANIES & TAVROS, CELEBRATE THE GROUNDBREAKING OF THEIR 55-STORY SKYSCRAPER AT LIC'S COURT SQUARE
LONG ISLAND CITY, N.Y., Aug. 13, 2025 /PRNewswire/ -- Incoco Capital, along with developers Charney Companies and Tavros today celebrated the groundbreaking of a 55-story skyscraper in Long Island City's Court Square. The future condominium encompasses both 24-19 Jackson Avenue and 45-03 23rd Street. The formal name for the building has not yet been determined.
Charney and Tavros spent years assembling properties for the Court Square high-rise, beginning in 2016. Eventually, they bought seven contiguous townhouse properties, along with air rights from two other properties. The project site was completed in 2022 when new partner Incoco Capital acquired additional land from Japanese hotel chain Toyoko, doubling the size of the original site.
Incoco Capital is a privately-owned real estate investment management and development firm with offices in New York City, New Jersey and Korea. "We have successfully carried out numerous projects in New York in partnership with proven developers and global institutional investors, including Korea," stated Fa Park, Chairman and Founder of Incoco Capital. "We are also exploring EB-5 investment opportunities, given the project's potential for job creation and broad economic impact."
"Our dream of creating condos in one of the most electric neighborhoods in New York City is now becoming a reality," said Sam Charney, Principal, Charney Companies. "Our journey to groundbreaking has been one of perseverance, challenging work and vision, all supported by a world-class team of professionals, colleagues and of course, our partners."
Architecture for the massive structure has been designed by FXCollaborative and will feature studios, one-, two-, three- and four-bedroom homes. In addition to offering a premier amenities package, a best-in-class grocer and Chelsea Piers Fitness will occupy the building's podium.
"We're thrilled to commence construction with this groundbreaking, which we've looked forward to with anticipation for almost ten years," said Nicholas Silvers, Founding Partner of Tavros. "The building's site is amazing, and once it is completed, views will be spectacular with vistas of three boroughs of New York City, fabulous amenities, and a location that couldn't be more central and convenient to all that the city has to offer."
A hub for public transportation, Court Square is conveniently located near the 7, G, E, M, N, and R trains. Buses abound, with routes through Brooklyn, Queens and Manhattan. The Long Island Railroad is steps away, as are great restaurants for all wallet sizes, MoMA PS1 and other museums, parks and shopping.
Occupancy is expected to begin in the spring of 2028.
About Incoco Capital, LLC:With a successful track record of investing in both public and private markets, INCOCO CAPITAL, LLC has expanded its investment mandate to include the real estate sector. With a focus on the New York metropolitan area, INCOCO has invested in various real estate development projects.
INCOCO is also the inventor and manufacturer of the world's first dry nail polish strips, and has been employing innovative and proprietary technologies to transform the cosmetics market since the company's launch in 2005. INCOCO's Color Street, with its brand launched in 2017, has grown into one of the most prolific direct selling companies in the Unites States, and was ranked 24th amongst direct selling companies globally in 2020. Now with a worldwide distribution channel and a full cosmetics lineup, INCOCO is well positioned as a premiere and global cosmetics group.
About Charney Companies:Founded in 2013, Charney Companies is a fully integrated real estate development, construction, brokerage, and management firm with a focus on developing, owning, and operating first-class residential and commercial real estate in the New York City Metro area. From ground-up construction to adaptive reuse and value-add repositioning, Charney plays an integral role in all aspects of the development process and leverages the expertise and experience of their principals to deliver superior products to the marketplace and best-in-class returns for their investors. Charney owns, operates, and is under construction on two million square feet throughout Brooklyn and Queens, and has won awards and accommodations from municipal organizations and media outlets for their work over the last 5 years. For more information, visit: https://charneycompanies.com/.
About Tavros:Tavros is a privately-owned real estate investment management and development firm. They invest on a discretionary basis, with a strong focus on New York City, and a global investor base of family offices, trusts, high net worth individuals, and institutions. Core to the Tavros discipline is the quality of its partnerships with tenants, investors, and lenders. As an owner and property manager, Tavros aims to ensure a positive experience for its tenants through attention to detail and a focus on quality of life.
CONTACTS:
Barbara Wagner
Barbara Wagner Communications
(917) 751-4387
barbara@bwagnerpr.com
Elana Van Patten
Barbara Wagner Communications
(315) 440-7554
elana@bwagnerpr.com
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SOURCE INCOCO CAPITAL, LLC
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