The F&T History

Relocating from Taiwan to the United States in 1982, CEO and Chairman of F&T Group, Michael Lee wasted no time in launching his business. During his first years in the United States, Mr. Lee established “TAFA Development Corp,” named after his family’s shipping company in Taiwan. With his development company, Mr. Lee immersed himself in the field of real estate development by acquiring properties in the New York metropolitan area. Today, F&T Group has developed a rich portfolio of award-winning, large-scale residential and mixed-use projects, and is devoted to transforming Flushing as well as other neighborhoods of the City of New York through real estate development.

In 1996, after working together for 10 years, Sunny Chiu and Mr. Lee joined forces to form a partnership that balanced vision with pragmatism. The formation of this partnership gave way to the F&T Group.

Over the years, the company continued to acquire significant landholdings within the five boroughs of New York City and began to focus its acquisition and development strategy on downtown Flushing, Queens, where the company was, and continues to be, very active in local community affairs. In 2000, The F&T Group established an international real estate presence in China, and continued to flourish in both New York and in Asia, co operating with J.P. Morgan Asset Management in 2007 to fund and develop the World Trade Center in Nanjing, China. This $800 million development, designed by the local, Chinese government, totals 4.7 million sq.ft.

F&T’s projects in Flushing include the 330,000-square-foot, mixed-use development at One Fulton Square, and Flushing Commons – a formerly city-owned 5.5-acre parking structure being redeveloped into 1.8 million square feet of residences, office space, new retail opportunities, community facility space, parking and an open-air plaza, of which the first phase was completed to great success.

As of 2023, The company is finishing the completion of Tangram and elevating Flushing through its groundbreaking vision of 1.2 million square feet of immersive retail, and entertainment, two residential towers, one office tower, three levels of underground parking, and a Marriott Renaissance hotel.  Tangram is designed to become a global destination, marking a new chapter for entertainment and experience in NYC.