The Domain Companies, LMXD, and Bridge Investment Group Holdings LLC have closed on a $290 million refinancing deal for Jasper, a newly completed mixed-use development at 2-33 50th Avenue on the Hunter’s Point waterfront in Long Island City, Queens. The financing, provided by Wells Fargo, marks an upsizing from the bank’s prior $220 million construction loan. Designed by S9 Architecture, Jasper contains 499 residential units and 33,000 square feet of retail space.
Rendering of Jasper. Credit: VUW
Rendering of Jasper. Credit: VUW
Jasper includes studio to three-bedroom apartments, with 150 homes designated as affordable for households earning up to 130 percent of the area median income. Building amenities include multiple outdoor spaces, a rooftop pool, coworking areas, and a pet spa. The development is targeting LEED Platinum certification and is part of the New York State Brownfield Cleanup Program.
Rendering of Jasper. Designed by S9 Architecture
Rendering of Jasper. Credit: VUW
The property’s ground-floor retail space is fully leased by ten tenants, including Dumbo Market, Bright Start, Club Pilates, Glowbar, Frankie’s Brooklyn Pizza, Tiger J Taekwondo, Matsuzuki Sakura, Kidstrong, Peanut and Honey, and StretchLab. Retail leasing was led by Adam Joly of Igloo.
Jasper is located at 5th Street between 49th and 50th Avenues, just steps from Gantry Plaza State Park. It is accessible via Long Island City’s seven subway lines: 7, E, N, G, W, R, and F.
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