A two-unit commercial retail condominium has closed for $12.95 million at The Corte in Long Island City, Queens, one of the largest retail condo sales in LIC and the highest-priced commercial retail condominium sale to date within the building.
The more than 16,000-square-foot retail component at the base of the eight-story mixed-use condominium at 21-30 44th Drive traded at a 6% cap rate and is fully leased to four long-term tenants: L Eye C Optics, Honey Nail Salon, Bright Start Child Learning Center and Local Locker.
Completed in 2019, The Corte includes 85 residential condominium units above two commercial retail condos and was designed by Dieguez Fridman, in collaboration with Beyer Blinder Belle.
The retail units were exclusively marketed by Troy Allen and Alexis Yoo of Modern Spaces.
