A Japanese hotel operator once planned a 1,200-room tower on this block. Toyoko Inn never built it, sold the site for $68.3 million in 2022, and the parcel is now carrying 600 apartments instead.
Project Scope
The tower at 24-19 Jackson Avenue rises 55 stories and 676 ft on an 18,000-sq-ft site bounded by 45th Avenue, Jackson Avenue and 23rd Street, directly beside the Court Square subway complex serving the 7, E, M and G lines. It will hold 600 apartments over 10,000 sq ft of retail.
FXCollaborative designed it. Above a multistory podium the tower rotates roughly 45 degrees to square up with Jackson Avenue, clad in a black-panel grid framing reflective glass curtain wall. Paired upper setbacks sit on the southeastern elevation, topped by a tall mechanical bulkhead. A landscaped terrace caps the podium along 23rd Street.
Chelsea Piers Fitness took 72,000 sq ft in that podium, a deal JLL brokered. The space carries an outdoor pool, an indoor basketball court, a running track, fitness studios and athletic training.
Charney Companies and Tavros started assembling the Court Square site in 2016. Incoco Capital’s 2022 land purchase doubled it. The three broke ground on August 13, 2025. Foundations were in by December 2025, and by mid-March 2026 several sections of slab around the core had been poured with rebar set for perimeter columns. Completion is signed for 2028.
Why It Matters
The financing is the part worth studying. A $525 million construction loan closed in June 2025 from Madison Realty Capital, Kushner Companies and OneIM. Loans of that size on Queens residential product were not routinely closing in 2024, and this one funded a ground-up 55-story tower with no condo conversion story attached.
The Chelsea Piers lease does a lot of work in that stack. Seventy-two thousand square feet of committed podium retail on a fifteen-plus-year operator changes the underwriting on the whole project, and it explains why the podium is as tall as it is.
At 676 ft the tower lands just below Skyline Tower next door, the borough’s second-tallest building. Court Square has quietly become the densest cluster of supertall-adjacent residential product outside Manhattan, and this is the tower that fills in the block.
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Project Team & Details
| Developer | Charney Companies; Tavros; Incoco Capital |
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| Owner / Client | Charney Companies / Tavros / Incoco Capital JV |
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| Architect | FXCollaborative |
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| Consultants | JLL (Retail Leasing) |
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| Status | Under Construction |
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| Funding Source | Private |
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