Three New Retail Leases Signed for Jasper at 49-20 5th Street In Long Island City, Queens

Three new retail leases were recently signed at Jasper, a mixed-use development located at 49-20 5th Street in Long Island City, Queens. Designed by S9 Architecture and developed by The Domain Companies, LMXD, VOREA Group, and Bridge Investment Group, the structure will span 550,000 square feet and yield 499 residential units and 112 parking spaces. The leases will occupy 6,115 square feet of the building’s 33,340 square feet of retail space.

The $370 million development is set for completion in Q1 2025. It plans to offer a variety of amenities, including a pool, fitness equipment and classes, a yoga studio, bike storage, a game room, and coworking space. Notably, 150 of the building’s 499 units will be set aside for those earning 130 percent of the area median income

The new retail tenants include Frankie’s Brooklyn Pizza, a collaboration between New York Fine Foods pizza truck and Sage and Zest catering, which will occupy 1,363 square feet; Tiger J Taekwondo, a martial arts gym, occupying 3,015 square feet; and Matsuzuki Sakura, a family-style sushi and sashimi restaurant, occupying 1,738 square feet. These businesses will join the previously announced tenants Dumbo Market, Bright Start, Club Pilates, and Glowbar, bringing Jasper to 83 percent retail leased prior to completion.

“With the addition of these three businesses to Jasper, we are seeing our vision for the building as a dynamic center that enhances our residents’ and neighbors’ lives, supports small businesses, and compliments the Long Island City character come to life,” said Matt Schwartz, Co-CEO of The Domain Companies.