
ARCFE Group 10
Completed & RepaidPrime Condo (Prime LIC)
Long Island City, Queens, New York (Jackson Avenue)
I-526
Approved
I-829
Pending USCIS Processing
Repayment
Fully repaid
The Project
About Prime Condo (Prime LIC).
Prime LIC is a brand new luxury condominium nestled in one of the most sought-after neighborhoods in the city. A collaboration between family-held development firm, Circle F, and award-winning interior designer, Andres Escobar, the project is a striking expression of contemporary urbanity.
The building has 70 incredible curated one-to-three bedroom units, all of which have private outdoor space and many with unobstructed city views.
Fully repaid — a pre-RIA (old law) project. *EB-5 capital repaid to the NCE.
Key Facts
- Location
- Long Island City, Queens, New York (Jackson Avenue)
- Targeted Employment Area
- Qualified for TEA
- EB-5 Investors
- 24
- Developer
- Circle F Capital
- Era
- Pre-RIA (old law)
In Depth
The full Group 10 story.
Qualified for TEA · 24 Investors · Prime location
PRIME CONDO
Boasting dazzling panoramic skyline views that include 1 WTC, the Empire State and Chrysler Buildings, the Queensboro and Williamsburg Bridges, and everything in between. Prime LIC is a brand new luxury condominium nestled in one of the most sought-after neighborhoods in the city. A collaboration between family-held development firm, Circle F, and award-winning interior designer, Andres Escobar, the project is a striking expression of contemporary urbanity.
The building has 70 incredible curated one-to-three bedroom units, all of which have private outdoor space and many with unobstructed city views. Other features include smart entry door lock by LATCH, 10’ high ceilings, expansive highly thermally insulated glazed floor-to-ceiling windows, 5” wide white oak plank wood flooring, energy efficient multi-zone heating/cooling system, and fully custom kitchens by GD Arredamenti equipped with a full-suite of Miele appliances.
PRIME LOCATION WITH HIGH RENTAL DEMAND
LONG ISLAND CITY
LIC is New York's fastest growing neighborhood. Its recent growth has opened door to a vibrant mix of things to see and do. The area has one of the most highly accessible transportation hubs, including 8 different subway lines. It is also rich in cultural diversity and home to a large community of artists. LIC is packed with museums, theaters and art spaces, including the infamous MoMA PS1 - one of the largest contemporary art institutions in the country.
Rents in this area are competitive but not off-the-chart high like Manhattan, while geographically still managed to be close to the city. This makes LIC the ideal place for young professionals to live in and the highly profitable investment option for real estate investors.
Developer · SOME COMPLETED PROJECTS · PREMIER DEVELOPER IN THE NYC AREA
Circle F Capital
The Jackson Avenue Condo/Commercial Building is being developed by the Circle F Capital which was founded in the 1960s by the Feldman family.
The Feldman family has a long‐standing tradition in New York real estate dating back to the 1930s when the family purchased their first investment properties in Manhattan. Through the decades, the Feldman family has successfully acquired, converted and sold several million square feet of office, retail, industrial, rental apartment, cooperative and condominium complexes throughout the New York City Metropolitan area. The Feldmans also manage all of the properties in their real estate portfolio under their family‐owned real estate management company, SAAB Management, which was founded in the 1940s.
SOME COMPLETED PROJECTS · DECADES OF HANDS-ON EXPERIENCE
Project Architect and Engineering Designs: SRAArchitecture and Engineering, PC
SRAArchitecture and Engineering PC will provide architectural and engineering designs for the project.
SRAArchitecture and Engineering PC is a growing SoHo‐based architecture firm, providing architecture, engineering, expediting, and code consulting services under one roof. SRAA+E takes an especially integrated and efficient approach to design to satisfy every client. The firm is well-known for a number of hospitality projects in NYC and throughout the US, including Bagatelle, Soho House, Tao, Lavo and Wolfgang’s Steakhouse. SRAA+E portfolio also includes a variety of residential and commercial projects, from full-scale projects to renovations and careful preservation work. The firm’s ultimate goal is to create beautiful, thoughtfully designed structures and spaces whole streamlining the planning design and construction process for their clients.
Project Progress
Latest updates from the site.
Dec 2020
The project has been almost completed. TCO is expected to approve in March/April 2021.
Site Report Archive — Prime Condo
Nov 2019
The contruction has made rapid progress. The foundation and superstructure work has been completed. The water and elcectric work, and HVAC has been completed to the roof. The punched doors/windows have been installed to the top floor. Elevators are being installed with the framing has been completed. The drive walls have been completed to the 8th floor. The project is estimated to be complete by the fall next year.
Aug 2019
The contruction has made rapid progress. The foundation and superstructure work has been completed. The water and elcectric work has been completed up to the 9th floor and the 8th floor, respectively. HVAC has been completed up to the 7th floor. Elevators are being installed with the framing has been completed. The drive walls have been completed in the first few floors. The project is estimated to be complete by mid next year.
May 2019
The contruction has made rapid progress. The foundation and superstructure work has been completed. The water and elcectric work has been completed up to the 6th floor. Doors and windows are delivered to the site for several floors.
Jan 2019
The contruction has made rapid progress. The foundation work has been completed. The superstructure has been up to the third floor. The building is expected to be topped out in 2.5 months.
Oct 2018
The foundation piles are mostly complete. The entire foundation work has completed 60%, and is expected to be completed by Nov 2018.
July 2018
Ground excavation work has been made in good progress.
The project is still carrying out foundation work with the supporting piles being completely completed.
The foundation piles are well in construction. The entire foundation work is expected to be completed in the first half of 2018.
April 2018
Ground excavation work has been made in good progress.
The project is carrying out foundation work and the supporting piles have been substantially completed.
The foundation piles are currently being built. The entire foundation work is expected to be completed in Q3 2018.
Sep 2017
The demolition is completely completed. Ground excavation work in progress.
June 2017
The project has submitted demo permit and received DOB approval. The insurance is now subject to MTA approval. All the new building plans have been submitted to the DOB for review.
Gallery
Prime Condo (Prime LIC) in view.




















Construction Progress
From the job site.
For illustration purpose only




















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