Grocer Dumbo Market to Open First Queens Location at Long Island City Development
By Abigail Nehring March 25, 2024 1:55 pm
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Brooklyn-based grocery chain Dumbo Market will open its first location in Queens at the base of a residential building early next year.
Dumbo Market signed a 15-year lease for 13,500 square feet on the ground floor of Jasper, a 550,000-square-foot residential development being built at 2-33 50th Avenue in the Hunters Point neighborhood of Long Island City, according to the developers.
Asking rent was between $70 and $79 per square foot, according to Igloo’s Adam Joly, who arranged the lease for developers The Domain Companies, LMXD, The Vorea Group and Bridge Investment Group with Rachel Cohen. The deal was first reported by the New York Post.
“Welcoming Dumbo Market to Jasper will offer a premier amenity for everyone who calls Hunters Points their home,” Domain CEO Matt Schwartz said in a statement. “Access to fresh, nutritious food is a pillar of healthy communities, and Dumbo Market is an excellent way to bolster well-being in the neighborhood.”
The grocery chain opened its first location in its namesake neighborhood at 66 Front Street in 2019 and expanded to a second outpost at 205 Smith Street in Boerum Hill, Brooklyn, three years later.
Dumbo Market’s Long Island City location will sell a variety of groceries and also have sushi, hot food and an espresso cafè with pastries, according to the developers.
Dumbo Market’s owner, Mohammed Mujalli, comes from a long line of grocery entrepreneurs. The Mujalli family also owns Urban Market, which has several locations in New York and New Jersey, including one at 50-01 Second Street, Queens, just a half block away from Jasper.
The Second Street Urban Market location will shut its doors when Dumbo Market opens, according to the Post.
Joly, a principal at Vorea’s Igloo brokerage, said in a statement that 50th Avenue “has become a sought-after retail corridor within Long Island City due to the heavy pedestrian foot traffic between the 7 train and the waterfront.”
Dumbo Market did not use its own broker, according to Joly.
When completed in 2025, Jasper will rise 13 stories and contain 499 apartments, about a third of which will be affordable to households earning 130 percent of the area median income, according to the project’s website.
Abigail Nehring can be reached at anehring@commercialobserver.com.
