The Real Deal New York

Lily Guo, Chatham to bring $48M LIC condo project to market

The 42-unit building is rising at 46-20 11th Street
By Will Parker | December 13, 2017 05:10PM

Lily Guo and a rendering of 46-20 11th Street (Credit: Raymond Chan Architects)

Flushing-based Lily Guo submitted a condominium offering plan for 46-20 11th Street in Long Island City, records with the New York state Attorney General’s office show.

The development partnership, which includes Harvey Gessin’s Chatham Development, plans to bring 42 condo apartments to market with a total project sellout price of $48.1 million.

Guo is the president of the American Regional Center for Entrepreneurs, a company that raises money for real estate projects through the EB-5 visa program.  Neither she or Gessin was immediately available to comment on the project.

Construction plans for the 46-20 11th Street were approved by the Department of Buildings in January, and call for a seven-floor, 40,000-square-foot property designed by Raymond Chan.

A two-story building on the site was slated for demolition in May. Renderings for the new building surfaced in August.