【ARCFE News】 ARCFE Celebrates The Groundbreaking of AG21/AG22 Project in LIC

ARCFE × iCross Capital were honored to participate in the groundbreaking ceremony of the AG21/AG22 project, now officially named The Vera, a landmark residential development in the heart of Long Island City (LIC), Queens. This event marks the beginning of another exciting chapter for one of NYC’s most dynamic neighborhoods and represents another major milestone for United Construction & Development Group, one of the most active and accomplished developers in the NYC residential market.

For the ARCFE and iCross Capital team, the groundbreaking ceremony was an opportunity to celebrate the beginning of another historic project for United Construction & Development Group in Queens. Having worked with the developer on previous successful projects, we are honored to work alongside their team as they continue to transform the LIC skyline and contribute to the long-term growth of the borough.

As the lender for the AG21/AG22 project, ARCFE and iCross Capital are proud to support the financing of another transformative development in NYC. Our confidence in the project is founded on both the resilience of the LIC market and the exceptional track records of the parties involved. Over 15 years of operations, ARCFE and iCross Capital have established themselves as trusted real estate financing partners, maintaining a 100% project success rate and 100% repayment rate across the projects we have financed. This long-standing performance reflects our rigorous bank-level underwriting standards, extensive market expertise, and commitment to working with experienced developers. 

In recognition of its continued leadership in the industry, iCross Capital was named among NYC's Top Construction Lenders by PincusCo in 2025. This distinction reflects the firm's growing presence in the New York real estate market and its continued success in providing financing solutions for high-quality developments throughout the region.

Our confidence is further reinforced by the outstanding track record of United Construction & Development Group. The developer is widely recognized for delivering Skyline Tower, the iconic 67-story condominium that became the tallest building in Queens and one of the most successful residential developments in the borough's history. Skyline Tower established a new benchmark for luxury living in Long Island City and demonstrated the developer's ability to successfully execute large-scale projects from construction through sales and operation.

LIC continues to distinguish itself as one of NYC’s most successful growth stories. Over the past decade, the neighborhood has experienced extraordinary transformations, attracting significant investment and establishing itself as a premier destination for luxury condominium development. With strong buyer demand and a positive community reputation, LIC remains well-positioned for continued growth and long-term value. 

The success of Skyline Tower further demonstrated the strong demand for quality residential product in the neighborhood. As LIC continues to mature into a premier residential and commercial hub, The Vera is well-positioned to build upon that momentum and become another defining addition to the area's skyline.

The groundbreaking of The Vera represents another significant step in the continued transformation of LIC into one of NYC's premier residential destinations. Supported by an accomplished development team, strong neighborhood fundamentals, and financing from ARCFE × iCross Capital, the project is positioned to become a valuable addition to the Queens skyline and community. 

AG21 and AG22 are currently open for EB-5 investment, offering qualified investors the opportunity to participate in this landmark development through flexible investment structures. For additional information about the project and the EB-5 program, prospective investors may contact ARCFE for a complimentary consultation.

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