Residential milestone underscores strong demand for the 70-story Long Island City tower, with more than 750 units leased since January amid New York City’s competitive rental market
Three inaugural tenants lease more than 7,468 square feet, bringing a robust mix of beauty, food and beverage, financial services and everyday conveniences to the neighborhood
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NEW YORK, Oct. 30, 2026 (GLOBE NEWSWIRE) — BLDG Management Co., Inc., a full-service, vertically-integrated real estate investment, management and development firm, today announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences just nine months after launching residential leasing. The milestone comes as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform Intuit.
Together, the three tenants have leased more than 7,468 square feet, with limited retail space remaining. All of the tenants will make their Long Island City debut and are expected to open in 2027, further expanding The Orchard’s resident experience and its connection to the surrounding community.
“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,” said Lloyd Goldman, President of BLDG Management. “BLDG has been part of the Long Island City community for more than 60 years, and we wanted The Orchard to build on that legacy by creating a place that serves both residents and the broader neighborhood. Surpassing 90% leased in just nine months reflects the demand for what we’ve created, while the addition of Tokimo, Mollytea, and Intuit will make The Orchard an even more dynamic destination for residents and the LIC community.”
Beauty, Financial Services and F&B Brands Join The Orchard as First Retail Tenants
Located along the North side of Jackson Avenue, The Orchard features approximately 14,000 square feet of retail space designed to serve both residents and the broader neighborhood.
Tokimo’s new 2,251-square-foot location will bring its distinctive K-beauty experience to Long Island City, offering a curated selection of sought-after skincare products and premium brands. Expected to open by Spring 2027, the store will build on the success of Tokimo’s Flushing and East Rutherford, New Jersey locations and mark the brand’s third outpost.
“As demand for K-beauty continues to grow, opening our third store at Queens’ tallest tower felt like a natural fit,” said Kai Zhang, CEO at Tokimo. “Long Island City is home to a young and diverse community that is increasingly interested in K-beauty and premium skincare, and we’re excited to bring a new Tokimo experience to the neighborhood with the products and brands our customers already love.”
Intuit, the global financial technology platform behind brands including TurboTax, QuickBooks, Credit Karma and Mailchimp, leased 3,546 square feet and is expected to open in December 2026.
Additional retailers include Mollytea, the global tea and beverage brand originating in Shenzhen, which is expanding from its Mott Street location with a new 1,671-square-foot lease and is expected to open in Q2 2027.
Residential Leasing Momentum at Queens’ Newest Skyline Icon
The arrival of The Orchard’s first retail tenants builds on its strong residential momentum, with the development surpassing the 90% leasing milestone just nine months after launching residential leasing. Of the 824 residences, comprising 576 market-rate and 248 affordable homes, limited availability remains, including spacious one-, two- and three-bedroom residences designed to accommodate today’s flexible lifestyles, with room for working from home, entertaining, wellness and everyday living. Residences are offered across four collections: The Residences, The Terrace Collection, The Premier and Penthouse Collection and The Sky Collection, with select homes featuring private outdoor spaces.
Demand has been particularly strong for The Orchard’s premium residences, with its 70th-floor Sky Collection now fully leased. Among the remaining offerings, the Terrace Collection features oversized private terraces that deliver an indoor-outdoor living experience rarely found at this scale in New York City rentals, while the Premier and Penthouse Collection offers elevated finishes, ceilings up to 11 feet and expansive layouts with sweeping skyline views.
“Today’s renters are prioritizing a lifestyle that offers both value and convenience, and they are increasingly expanding their search beyond Manhattan to find it,” said Jodi Stasse, Executive Vice President of New Developments at The Corcoran Group, the exclusive marketing and leasing agent for The Orchard. “The Orchard delivers an exceptional residential experience with thoughtfully designed homes, robust amenities, and seamless access to Manhattan. Its strong leasing momentum underscores both the property’s appeal and Long Island City’s continued growth as one of New York City’s most dynamic residential neighborhoods.”
The Orchard offers more than 100,000 square feet of amenities, anchored by New York City’s largest private backyard, a 60,000-square-foot landscaped retreat with an apple orchard, resort-style pool and three pickleball courts. Additional highlights include an indoor basketball court developed in collaboration with NBA skills trainer Chris Brickley, an aquatic center, fitness and coworking spaces and a 70th-floor Sky Lounge overlooking the New York City skyline.
Minutes from Midtown Manhattan, The Orchard is surrounded by Long Island City’s cafés, shops, destination dining, green spaces and cultural institutions, including MoMA PS1 and The Noguchi Museum. Nearby access to eight subway lines, LIRR, Citi Bike and the NYC Ferry connects residents to Queens, Manhattan, Brooklyn and beyond.
Limited availability remains across The Orchard, with monthly rents starting at $5,360 for one-bedrooms, $7,510 for two-bedrooms and $12,255 for three-bedrooms. For more information, including availability or to schedule an appointment with Corcoran New Development, please visit theorchardlic.com or call 718-252-2222.
About BLDG Management Co., Inc.
BLDG Management Co., Inc. is a full-service, vertically-integrated real estate investment, management and development firm founded over 60 years ago. Headquartered in New York City, the firm manages a diversified portfolio of 300+ assets across the United States in all sectors, including residential, office, retail, industrial and hospitality. BLDG Management’s approach emphasizes management and development of high-quality assets and destinations that serve as catalysts for enduring economic vitality and community growth. The Firm invests throughout the real estate capital stack in equity and debt, in all strategies, including core, value-add and ground-up development.
About Corcoran New Development
Corcoran New Development is the new development consulting and marketing division of The Corcoran Group, one of the world’s leading real estate brokerages. Utilizing The Corcoran Group’s extensive marketplace presence, industry-leading research, and award-winning branding and marketing resources, the division serves a diverse range of high-profile projects, from boutique luxury condominiums to large-scale multi-family rental developments. With a robust marketing portfolio spanning all five boroughs, Westchester County, and New Jersey, Corcoran New Development consistently ranks among the most prominent New Development Marketing Firms in the Metropolitan Area. The Corcoran Group is a subsidiary of Anywhere Real Estate Inc. (NYSE: HOUS).
CONTACT: Antenna Group
theorchardlic@antennagroup.com
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