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:
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 30,000
- Address: 58-30 Grand Avenue
- Market: Maspeth, Queens
- Landlord: Jon Davis - Davis Companies
- Tenant: Lauren Santo Domingo - Moda Operandi
- Landlord's Representative: Helen Paul, Rico Murtha, Sonny Singh & Joe Hentze Jr - Cushman & Wakefield
- Tenant's Representative: Owen Hane - JLL
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
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