Long Island City, NY The Domain Companies, LMXD, the VOREA Group, and Bridge Investment Group released that Dumbo Market, a grocery store, has signed a lease for 13,500 s/f of retail space at Jasper, a $370 million mixed-use development. Brokered by Igloo, Dumbo Market will open its new location in early 2025, coinciding with the completion of Jasper’s residential space. The market is moving from its site across the street and into Jasper, joining two existing locations in Brooklyn and one coming soon in Hoboken, N.J.
Located along 5th St. between 50th Ave. and 49th Ave., Jasper is a joint venture between The Domain Companies, LMXD, the VOREA Group, and Bridge Investment Group.
Occupying a portion of the building’s 33,000 s/f of retail space, Dumbo Market will join a mixed-use, mixed-income community. The additional retailers, who have been carefully curated to provide an optimal spread of resources to Jasper and the neighborhood, will be announced in the coming months.
“With each of our projects, we strive to build holistic environments where communities have everything they need to thrive,” said Matt Schwartz, CEO of the Domain Companies. “Welcoming Dumbo Market to Jasper will offer a premier amenity for everyone who calls Hunters Points their home. Access to fresh, nutritious food is a pillar of healthy communities, and Dumbo Market is an excellent way to bolster wellbeing in the neighborhood.”
Dumbo Market at Jasper will be a full conventional and gourmet market offering a grocery, imported domestic and craft beer, ciders, dairy, produce, fresh meats and seafood, a bakery, a fresh deli, sushi, grab and go selections, hot food and an espresso cafe with pastries. The market will offer a weekly circular and will have a section dedicated to seating for patrons to stay and enjoy their food and beverage offerings.
In addition to the ground floor retail space, Jasper will have 499 apartment rentals ranging from studios to three-bedrooms, 150 of which will be set aside for those with a 130% area median income. A development designed to offer residents a holistic living experience, Jasper residents will enjoy access to multiple outdoor terraces, a pool, fitness equipment and classes, a yoga studio, bike storage, multiple landscaped courtyards, a game room, package lockers, personal storage, dedicated outdoor dining and BBQ areas, a residential lounge and demonstration kitchen, co-working space, green roofs and 112 parking spaces. The Jasper project is expected to be completed in Q1 2025.
Located half a block away from Gantry State Park, Dumbo Market will join Jasper at a destination in the Hunter’s Point neighborhood. Jasper is close to a combination of transportation options, including Long Island City’s seven subway lines (7, E, N, G, W, R, F).
Jasper will pursue LEED platinum certification and will participate in the New York State Brownfield Cleanup Program. This will be the fourth site in New York City that Domain will bring from a brownfield to LEED Gold or higher sustainability standards.
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