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121 Malcolm X Boulevard

Mitchell Enterprises Leases Retail Space To Mario Procida At 121 Malcolm X Boulevard Harlem
LEASEDRetail

Mitchell Enterprises Leases Retail Space To Mario Procida At 121 Malcolm X Boulevard Harlem

121 Malcolm X Boulevard

$95

$95/SF

Building Size

6,550 SF

Asset Type

Retail

Closing

Jan 2, 2026

AI

The property involved in this transaction is a retail space located at 121 Malcolm X Boulevard in Harlem. The premises feature a lease with an asking rent of $95 per square foot and encompasses a total area of 6,550 square feet. The lease type is classified as a Modified Gross Lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $95/ft
  • Square Footage: 6,550
  • Address: 121 Malcolm X Boulevard
  • Market: Harlem
  • Landlord: Mitchell Enterprises
  • Tenant: Mario Procida - Procida Development dba MALCOLM SHABAZZ MARKET
  • Broker: Aric Trakhtenberg - Newmark
  • Attorney: Wachtel Missry LLP, Michael P. Miata, Esq. & Eli D. Dweck Esq.

This lease transaction features prominent individuals and entities, with Mario Procida representing Procida Development in operating the Malcolm Shabazz Market. The deal was brokered by Aric Trakhtenberg from Newmark, and the legal aspects were managed by attorneys Michael P. Miata and Eli D. Dweck from Wachtel Missry LLP.

Players

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

50 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

166978.95%

Cash-on-Cash

-47723.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93