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JLL Team Markets Ground-Floor Retail Condos in LIC

JLL Capital Markets has been selected by SK Development to market 14,732 square feet of flagship retail at the base of the Dieguez Fridman-designed Corte Condominiums along 44th Drive in Long Island City. The space is being offered for $17.75 million and consists of two retail condominiums divided into four separate retail units.

Vice chairmen Brendan Maddigan and Stephen Palmese; managing directors Winfield Clifford, Michael Mazzara and Ethan Stanton; and associate Michael Lipman will market the Corte retail space. JLL’s Jonathan Schwartz will handle the financing.

“Court Square is uniquely positioned as one of New York City’s premier live/work/play areas, and offers easy access to Manhattan,” said Palmese. “The new shops along 44th Drive provide service oriented-retail that is needed in the area and that is sought after by investors.”

Three of the units are currently leased to prominent tenants. The fourth will be delivered vacant upon sale.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
  • ◦Sale/Acquisition