Queens tallest tower reaches 90% leased and adds first three retail tenants
The Orchard in Long Island City hit ninety percent leased.
The short version
- The 70 story tower launched residential leasing just nine months ago.
- Now it has signed its very first three retail tenants.
- They took over 7468 square feet of retail space.
Queens has a new landmark towering over the neighborhood, and it is filling up fast. The Orchard, the tallest skyscraper in the borough, just hit 90 percent leased across its 824 residences. That milestone comes just nine months after the 70-story Long Island City development first opened its doors to renters, according to Connect CRE.
Now, the building is bringing in its first three retail tenants to fill out the ground floor. K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea, and financial technology platform Intuit have all signed leases for more than 7,468 square feet of retail space.
All three brands are making their Long Island City debut and are scheduled to open their doors in 2027. Lloyd Goldman, the head of BLDG Management Co., Inc, which built and manages the property, noted that his firm has been part of the local community for more than 60 years.
"The Orchard was designed to be more than a place to live, with residences, amenities and services that give people opportunities to live, work and connect right at home," Goldman said. With limited retail space still available in the building, the remaining storefronts are expected to attract even more neighborhood foot traffic.
For local business owners watching the Queens real estate market, massive new residential towers continue to bring thousands of new shoppers right to the sidewalk.
