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F&T Group and SCG America Announces Commercial Condominium Purchased by Quontic Bank

Co-developers F&T Group and SCG America announced the sale of a commercial condominium purchased by Quontic Bank—a national institution handling personal banking, business banking and mortgages with locations in six states, including New York—within prime office condominium building, Tangram Tower.

A Member FDIC bank headquartered in Astoria, Queens, Quontic Bank will occupy part of the 10th floor—or 1,456 square feet—after the unit is complete in 3Q 2019. Sale prices average $1,274 per square foot within the 12-story building, currently under construction.

Tangram Tower is comprised of Class A office space tailored for medical practitioners, professionals, and business owners. Consisting of 48 luxury office condominiums designed by Margulies Hoelzli Architecture, the building is part of the 1.2 million-square-foot multi-phased, mixed-use Tangram development in the heart of Flushing, Queens, which will also bring a total of 317 luxury residences; a 207-key branded lifestyle hotel; 275,000 gross square feet of cutting-edge retail; themed restaurants; a culinary food hall; beer garden; and a variety of entertainment options including a 4DX movie theater.

Eunice Chen of Fultonex Realty, LLC represented the ownership, Tangram Tower Sponsor LLC, in the sale of this transaction. Huanyan Li of Century Homes Realty Group, LLC represented Quontic Bank.

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