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58 30 Grand Avenue

Moda Operandi Leases 30000 SF At The Davis Companies’ Pearl Building In Maspeth Queens
LEASEDIndustrial

Moda Operandi Leases 30000 SF At The Davis Companies’ Pearl Building In Maspeth Queens

58 30 Grand Avenue

Building Size

30,000 SF

Asset Type

Industrial

Closing

May 7, 2025

AI

The asset involved in this transaction is an industrial property located at 58-30 Grand Avenue in Maspeth, Queens, encompassing a total square footage of 30,000. The deal includes a lease agreement rather than a purchase. The property is owned by The Davis Companies, specifically represented by Jon Davis.

Summary of transaction details:

This transaction allows Moda Operandi to establish a new distribution center, reflecting their regional growth strategy. The involvement of major representatives from Cushman & Wakefield and JLL highlights the collaborative effort in facilitating this lease agreement.

Players

Rico Murtha

Cushman & Wakefield

Broker

$80M

vol

6 deals

Broker
DC
Davis CompaniesLandlord

Maspeth Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93